Arbutus Biopharma (NASDAQ:ABUS) Sets New 1-Year High at $3.89

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $3.89 and last traded at $3.88, with a volume of 302272 shares. The stock had previously closed at $3.81.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABUS. JMP Securities restated a “market outperform” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research note on Thursday, April 4th. Chardan Capital restated a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research note on Wednesday, June 5th. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research note on Thursday, June 6th.

Arbutus Biopharma Trading Up 0.5 %

The company has a 50-day moving average of $3.26 and a two-hundred day moving average of $2.88.

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

Institutional Investors Weigh In On Arbutus Biopharma

Several large investors have recently made changes to their positions in the company. Walleye Trading LLC bought a new stake in shares of Arbutus Biopharma in the first quarter worth about $36,000. Tidal Investments LLC bought a new stake in shares of Arbutus Biopharma in the first quarter worth about $111,000. Kennedy Capital Management LLC increased its holdings in shares of Arbutus Biopharma by 12.7% in the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock worth $1,126,000 after purchasing an additional 49,265 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Arbutus Biopharma by 22.4% in the first 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 last quarter. Finally, Verus Capital Partners LLC grew its position in Arbutus Biopharma by 30.5% in the first quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 9,800 shares in 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.