Arbutus Biopharma (NASDAQ:ABUS) Hits New 12-Month High – Here’s Why

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.17 and last traded at $5.1650, with a volume of 1098825 shares traded. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.00.

Arbutus Biopharma Price Performance

The firm’s 50-day moving average is $4.45 and its 200 day moving average is $4.43. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 6.29 and a beta of 0.62.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share for the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. The company had revenue of $179.13 million for the quarter. On average, sell-side analysts forecast that Arbutus Biopharma Corporation will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ABUS. Goldman Sachs Group Inc. grew its position in Arbutus Biopharma by 290.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,075,948 shares of the biopharmaceutical company’s stock valued at $7,245,000 after acquiring an additional 1,544,070 shares during the period. Legal & General Group Plc increased its stake in Arbutus Biopharma by 5.1% during the second quarter. Legal & General Group Plc now owns 124,486 shares of the biopharmaceutical company’s stock worth $385,000 after acquiring an additional 6,089 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Arbutus Biopharma by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 207,805 shares of the biopharmaceutical company’s stock worth $642,000 after purchasing an additional 7,048 shares during the period. Prudential Financial Inc. raised its holdings 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 purchasing an additional 7,610 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Arbutus Biopharma by 29.8% in the 2nd quarter. Invesco Ltd. now owns 181,084 shares of the biopharmaceutical company’s stock valued at $560,000 after purchasing an additional 41,622 shares in the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Company Profile

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.