Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase – Should You Buy?

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) saw strong trading volume on Wednesday . 1,519,395 shares traded hands during trading, an increase of 34% from the previous session’s volume of 1,132,564 shares.The stock last traded at $4.22 and had previously closed at $4.11.

Analysts Set New Price Targets

Several research analysts have weighed in on ABUS shares. JMP Securities raised their price objective on shares of Arbutus Biopharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.25.

Arbutus Biopharma Price Performance

The firm has a market capitalization of $777.51 million, a PE ratio of -9.36 and a beta of 1.91. The firm’s fifty day moving average is $3.98 and its two-hundred day moving average is $3.46.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $1.73 million during the quarter, compared to the consensus estimate of $1.54 million. Arbutus Biopharma had a negative net margin of 766.20% and a negative return on equity of 66.68%. During the same period in the prior year, the company earned ($0.10) earnings per share. As a group, equities research analysts predict that Arbutus Biopharma Co. will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Arbutus Biopharma by 19.7% during the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock valued at $902,000 after buying an additional 57,390 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Arbutus Biopharma during the 1st quarter worth approximately $266,000. Verus Capital Partners LLC increased its stake in shares of Arbutus Biopharma by 30.5% during the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 9,800 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Arbutus Biopharma by 22.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 6,649 shares during the period. Finally, Kennedy Capital Management LLC lifted its stake in Arbutus Biopharma by 12.7% in the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after purchasing an additional 49,265 shares during the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.

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.