Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase – Should You Buy?

by · The Markets Daily

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS – Get Free Report) saw an uptick in trading volume on Tuesday. 4,622,457 shares changed hands during trading, an increase of 73% from the previous session’s volume of 2,674,178 shares. The stock last traded at $4.7950 and had previously closed at $4.86.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings raised Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Arbutus Biopharma currently has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Get Our Latest Research Report on Arbutus Biopharma

Arbutus Biopharma Trading Down 0.7%

The firm has a market capitalization of $955.88 million, a P/E ratio of 6.09 and a beta of 0.62. The company has a 50 day simple moving average of $4.83 and a two-hundred day simple moving average of $4.59.

Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma announced that its Board of Directors has initiated a share repurchase plan on Friday, August 21st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABUS. Stoneridge Investment Partners LLC bought a new stake in shares of Arbutus Biopharma in the second quarter worth about $44,000. Principal Financial Group Inc. bought a new position in Arbutus Biopharma during the first quarter valued at approximately $49,000. Walleye Trading LLC purchased a new position in Arbutus Biopharma during the 2nd quarter valued at approximately $67,000. E Fund Management Co. Ltd. purchased a new position in Arbutus Biopharma during the 2nd quarter valued at approximately $69,000. Finally, Cura Wealth Advisors LLC bought a new stake in Arbutus Biopharma in the 2nd quarter worth approximately $72,000. Institutional investors own 43.79% of the company’s stock.

About Arbutus Biopharma

(Get Free Report)

Arbutus Biopharma Corporation (NASDAQ: ABUS) is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research is aimed at addressing multiple stages of the HBV lifecycle and developing therapies that may improve long-term viral suppression and support a functional cure.

The company’s pipeline has included AB-729, an RNA interference-based therapy designed to reduce hepatitis B surface antigen, and AB-836, an orally administered capsid assembly modulator intended to interfere with HBV replication.

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