Arbutus Biopharma (NASDAQ:ABUS) Sees Strong Trading Volume – What’s Next?

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) saw unusually-high trading volume on Wednesday . Approximately 4,416,566 shares changed hands during mid-day trading, an increase of 128% from the previous session’s volume of 1,938,226 shares.The stock last traded at $4.59 and had previously closed at $4.69.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Arbutus Biopharma in a research note on Wednesday, January 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.00.

Arbutus Biopharma Trading Down 1.9%

The stock’s 50-day moving average price is $4.38 and its two-hundred day moving average price is $4.35. The stock has a market capitalization of $884.67 million, a P/E ratio of -20.00 and a beta of 0.69.

Institutional Trading of Arbutus Biopharma

Several hedge funds have recently made changes to their positions in ABUS. Oxford Asset Management LLP bought a new position in shares of Arbutus Biopharma during the 2nd quarter worth $38,000. Voleon Capital Management LP purchased a new position in shares of Arbutus Biopharma in the third quarter worth about $47,000. Cibc World Markets Corp bought a new stake in shares of Arbutus Biopharma in the fourth quarter valued at approximately $48,000. Daiwa Securities Group Inc. lifted its stake in shares of Arbutus Biopharma by 3,911.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 15,449 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Arbutus Biopharma by 71.5% in the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 7,610 shares during the period. 43.79% of the stock is currently owned by institutional investors.

Arbutus Biopharma Company Profile

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.