Arbutus Biopharma Co. (NASDAQ:ABUS) Short Interest Update

Arbutus Biopharma Co. (NASDAQ:ABUSGet Rating) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 3,920,000 shares, a decrease of 11.1% from the August 15th total of 4,410,000 shares. Based on an average daily trading volume, of 830,700 shares, the days-to-cover ratio is currently 4.7 days.

Arbutus Biopharma Price Performance

Shares of Arbutus Biopharma stock opened at $2.22 on Monday. Arbutus Biopharma has a 1 year low of $1.93 and a 1 year high of $6.50. The business has a 50-day moving average of $2.38 and a two-hundred day moving average of $2.57. The company has a market capitalization of $332.89 million, a P/E ratio of -3.70 and a beta of 2.24.

Arbutus Biopharma (NASDAQ:ABUSGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. Arbutus Biopharma had a negative return on equity of 61.57% and a negative net margin of 211.09%. During the same period in the prior year, the company earned ($0.23) earnings per share. On average, equities analysts anticipate that Arbutus Biopharma will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ABUS. Price T Rowe Associates Inc. MD bought a new position in shares of Arbutus Biopharma during the second quarter worth about $27,000. Verition Fund Management LLC bought a new position in shares of Arbutus Biopharma during the second quarter worth about $28,000. Front Row Advisors LLC bought a new position in shares of Arbutus Biopharma during the first quarter worth about $31,000. Apollon Wealth Management LLC bought a new position in shares of Arbutus Biopharma during the second quarter worth about $31,000. Finally, Principal Financial Group Inc. bought a new position in shares of Arbutus Biopharma during the second quarter worth about $32,000. 29.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities cut their target price on Arbutus Biopharma from $10.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Tuesday, June 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.13.

About Arbutus Biopharma

(Get Rating)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel covalently conjugated N-acetylgalactosamine (GalNAc) delivery technology; and AB-836, an oral capsid inhibitor that suppresses HBV DNA replication.

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