Arbutus Biopharma (NASDAQ:ABUS) Stock Price Down 6.3% – What’s Next?

Arbutus Biopharma Co. (NASDAQ:ABUS)’s share price traded down 6.3% during trading on Monday . The stock traded as low as $2.89 and last traded at $3.03. 401,394 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 980,240 shares. The stock had previously closed at $3.23.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABUS shares. StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Tuesday, January 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Price Performance

The firm’s fifty day simple moving average is $3.36 and its 200 day simple moving average is $3.53. The company has a market capitalization of $576.35 million, a price-to-earnings ratio of -7.00 and a beta of 1.45.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. The firm had revenue of $1.57 million for the quarter, compared to analysts’ expectations of $2.20 million. Equities research analysts forecast that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABUS. E Fund Management Co. Ltd. acquired a new stake in Arbutus Biopharma during the 4th quarter worth about $34,000. Xponance Inc. acquired a new stake in shares of Arbutus Biopharma during the fourth quarter worth approximately $34,000. Raymond James Financial Inc. purchased a new position in Arbutus Biopharma during the fourth quarter valued at approximately $34,000. Cibc World Markets Corp acquired a new position in Arbutus Biopharma in the 4th quarter valued at approximately $45,000. Finally, Hsbc Holdings PLC purchased a new stake in Arbutus Biopharma in the 4th quarter worth approximately $55,000. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.