Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase – What’s Next?

Arbutus Biopharma Corporation (NASDAQ:ABUS) shares saw unusually-high trading volume on Monday . 3,634,611 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 2,115,477 shares.The stock last traded at $5.2130 and had previously closed at $5.21.

Wall Street Analysts Forecast Growth

ABUS has been the subject of several research analyst reports. Weiss Ratings raised shares of Arbutus Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Wall Street Zen cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Arbutus Biopharma has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Arbutus Biopharma Stock Performance

The firm’s fifty day moving average is $4.66 and its 200 day moving average is $4.47. The firm has a market cap of $1.03 billion, a P/E ratio of 6.58 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Arbutus Biopharma had a return on equity of 90.98% and a net margin of 84.22%.The firm had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma announced that its board has initiated a share buyback plan on Friday, August 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABUS. Oxford Asset Management LLP bought a new stake in shares of Arbutus Biopharma during the 2nd quarter worth approximately $38,000. Stoneridge Investment Partners LLC bought a new stake in Arbutus Biopharma during the 2nd quarter worth approximately $44,000. Voleon Capital Management LP acquired a new stake in shares of Arbutus Biopharma in the third quarter valued at about $47,000. Cibc World Markets Corp bought a new stake in shares of Arbutus Biopharma in the 4th quarter valued at $48,000. Finally, Principal Financial Group Inc. acquired a new stake in Arbutus Biopharma during the 1st quarter worth about $49,000. 43.79% of the stock is owned by institutional investors and hedge funds.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.