Arbutus Biopharma (NASDAQ:ABUS) Trading 4.1% Higher Following Strong Earnings

Arbutus Biopharma Co. (NASDAQ:ABUS) traded up 4.1% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $3.38 and last traded at $3.41. 167,925 shares changed hands during trading, a decline of 84% from the average session volume of 1,030,959 shares. The stock had previously closed at $3.27.

The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.57 million for the quarter, compared to analysts’ expectations of $2.20 million. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABUS shares. Chardan Capital reissued a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Arbutus Biopharma from a “hold” rating to a “sell” rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. purchased a new position in shares of Arbutus Biopharma in the 4th quarter worth about $34,000. Xponance Inc. bought a new stake in Arbutus Biopharma in the 4th quarter worth approximately $34,000. Raymond James Financial Inc. bought a new stake in Arbutus Biopharma in the 4th quarter worth approximately $34,000. Cibc World Markets Corp purchased a new stake in Arbutus Biopharma in the fourth quarter worth approximately $45,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Arbutus Biopharma during the fourth quarter worth approximately $55,000. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Stock Performance

The company has a market cap of $647.12 million, a PE ratio of -7.96 and a beta of 1.93. The stock’s 50 day moving average price is $3.33 and its 200-day moving average price is $3.58.

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.