Arbutus Biopharma Corp. (NASDAQ:ABUS) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,140,207 shares, a drop of 23.9% from the October 14th total of 1,498,802 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 105,234 shares, the days-to-cover ratio is presently 10.8 days.

Arbutus Biopharma Corp. (NASDAQ:ABUS) opened at 2.80 on Monday. Arbutus Biopharma Corp. has a 1-year low of $2.65 and a 1-year high of $5.88. The firm’s market capitalization is $153.43 million. The firm’s 50-day moving average price is $3.22 and its 200 day moving average price is $3.77.

Several hedge funds and other institutional investors have recently bought and sold shares of ABUS. KCG Holdings Inc. acquired a new position in Arbutus Biopharma Corp. during the third quarter worth $102,000. Morgan Stanley raised its position in Arbutus Biopharma Corp. by 34.9% in the third quarter. Morgan Stanley now owns 134,715 shares of the biopharmaceutical company’s stock worth $464,000 after buying an additional 34,862 shares during the last quarter. Bank of Montreal Can raised its position in Arbutus Biopharma Corp. by 6.3% in the third quarter. Bank of Montreal Can now owns 861,553 shares of the biopharmaceutical company’s stock worth $2,964,000 after buying an additional 50,768 shares during the last quarter. K2 Principal Fund L.P. raised its position in Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 33,796 shares during the last quarter. Finally, AXA raised its position in Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock worth $2,757,000 after buying an additional 11,062 shares during the last quarter. 31.99% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on ABUS shares. Leerink Swann reaffirmed a “buy” rating on shares of Arbutus Biopharma Corp. in a research report on Wednesday, July 20th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Arbutus Biopharma Corp. in a research report on Wednesday, July 20th. Zacks Investment Research cut Arbutus Biopharma Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. William Blair started coverage on Arbutus Biopharma Corp. in a research report on Friday, August 19th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Chardan Capital reaffirmed a “sell” rating on shares of Arbutus Biopharma Corp. in a research report on Sunday, October 2nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $7.21.

Arbutus Biopharma Corp. Company Profile

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

5 Day Chart for NASDAQ:ABUS

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