Arbutus Biopharma (NASDAQ:ABUS) Trading Up 6.3% – Here’s What Happened

Arbutus Biopharma Co. (NASDAQ:ABUS) shares were up 6.3% on Thursday . The stock traded as high as $3.44 and last traded at $3.39. Approximately 119,890 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,021,157 shares. The stock had previously closed at $3.19.

Analyst Ratings Changes

ABUS has been the subject of several research analyst reports. StockNews.com downgraded shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, January 21st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Price Performance

The firm’s 50-day simple moving average is $3.33 and its 200 day simple moving average is $3.63. The firm has a market capitalization of $628.17 million, a price-to-earnings ratio of -7.66 and a beta of 1.93.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of Arbutus Biopharma during the fourth quarter worth about $236,000. Charles Schwab Investment Management Inc. increased its position in Arbutus Biopharma by 218.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock worth $4,667,000 after buying an additional 831,663 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Arbutus Biopharma during the 3rd quarter valued at approximately $754,000. Barclays PLC raised its stake in shares of Arbutus Biopharma by 466.3% during the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock valued at $1,047,000 after purchasing an additional 223,995 shares during the period. Finally, State Street Corp increased its holdings in Arbutus Biopharma by 50.2% during the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after acquiring an additional 1,472,652 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

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.