Arbutus Biopharma (NASDAQ:ABUS) Sees Strong Trading Volume – What’s Next?

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) saw unusually-strong trading volume on Wednesday . Approximately 4,416,566 shares changed hands during trading, an increase of 128% from the previous session’s volume of 1,938,226 shares.The stock last traded at $4.59 and had previously closed at $4.69.

Analyst Ratings Changes

A number of research firms have recently commented on ABUS. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, November 14th. Wall Street Zen cut Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.00.

Arbutus Biopharma Stock Down 1.9%

The firm has a market capitalization of $884.67 million, a PE ratio of -20.00 and a beta of 0.69. The company has a 50-day moving average of $4.38 and a 200 day moving average of $4.35.

Institutional Trading of Arbutus Biopharma

Hedge funds have recently made changes to their positions in the stock. Oxford Asset Management LLP bought a new stake in Arbutus Biopharma during the second quarter worth about $38,000. Voleon Capital Management LP purchased a new stake in shares of Arbutus Biopharma during the third quarter valued at approximately $47,000. Cibc World Markets Corp purchased a new stake in Arbutus Biopharma during the 4th quarter valued at $48,000. Daiwa Securities Group Inc. boosted its holdings in shares of Arbutus Biopharma by 3,911.1% during the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 15,449 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Arbutus Biopharma by 71.5% in the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 7,610 shares during the last quarter. 43.79% of the stock is owned by institutional investors.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.