Arbutus Biopharma (NASDAQ:ABUS) Shares Down 4.7%

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) fell 4.7% during trading on Thursday . The stock traded as low as $3.23 and last traded at $3.25. 316,949 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,149,436 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

ABUS has been the topic of several recent analyst reports. Chardan Capital reiterated a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research note on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, April 4th. Finally, HC Wainwright dropped their target price on Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, March 1st.

Arbutus Biopharma Trading Up 0.3 %

The company has a fifty day simple moving average of $2.82 and a 200 day simple moving average of $2.53.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $1.53 million for the quarter, compared to the consensus estimate of $2.16 million. Arbutus Biopharma had a negative return on equity of 62.68% and a negative net margin of 572.81%. Equities analysts anticipate that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of ABUS. Barclays PLC raised its stake in Arbutus Biopharma by 175.3% during the 3rd quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 83,950 shares during the period. Hudson Bay Capital Management LP raised its holdings in Arbutus Biopharma by 45.8% during the third quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock worth $8,424,000 after buying an additional 1,302,978 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Arbutus Biopharma by 15.3% during the fourth quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 6,117 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new stake in shares of Arbutus Biopharma in the 4th quarter worth about $56,000. Finally, Clear Harbor Asset Management LLC raised its stake in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 7,500 shares during the last quarter. 43.79% of the stock is owned by institutional investors.

About Arbutus Biopharma

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.