Arbutus Biopharma (NASDAQ:ABUS) Trading Up 5.6%

Arbutus Biopharma Corp (NASDAQ:ABUS)’s stock price was up 5.6% during mid-day trading on Friday . The company traded as high as $1.54 and last traded at $1.50, approximately 141,526 shares changed hands during trading. A decline of 59% from the average daily volume of 341,151 shares. The stock had previously closed at $1.42.

A number of research analysts have issued reports on ABUS shares. Zacks Investment Research lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, July 16th. Finally, ValuEngine raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.19.

The stock’s fifty day moving average price is $1.91 and its two-hundred day moving average price is $2.80. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 0.10.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.11). Arbutus Biopharma had a negative return on equity of 125.64% and a negative net margin of 1,948.40%. The firm had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.88 million. On average, research analysts forecast that Arbutus Biopharma Corp will post -1.41 earnings per share for the current year.

Several institutional investors have recently modified their holdings of ABUS. BNP Paribas Arbitrage SA bought a new stake in shares of Arbutus Biopharma during the 1st quarter worth approximately $26,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Arbutus Biopharma by 40.4% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 30,593 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 8,797 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Arbutus Biopharma during the 2nd quarter worth approximately $74,000. Legal & General Group Plc lifted its stake in Arbutus Biopharma by 15.8% in the 4th quarter. Legal & General Group Plc now owns 28,407 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 3,867 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Arbutus Biopharma by 65.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 22,500 shares during the last quarter. 42.21% of the stock is owned by institutional investors.

About Arbutus Biopharma (NASDAQ:ABUS)

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

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