Arbutus Biopharma (NASDAQ:ABUS) Hits New 1-Year High - Still a Buy?

Key Points

• Arbutus Biopharma's stock hit a new 52-week high of $4.62 during mid-day trading, closing at $4.50 with a trading volume of 449,366 shares.
• Chardan Capital reaffirmed a "buy" rating with a $5.00 price target, while Wall Street Zen downgraded the stock from "buy" to "hold," resulting in a consensus "buy" rating among three analysts.
• The company reported earnings of $0.01 per share, beating expectations, with revenue of $10.74 million significantly higher than the anticipated $2.21 million.

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.62 and last traded at $4.50, with a volume of 449366 shares changing hands. The stock had previously closed at $4.33.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Arbutus Biopharma has a consensus rating of "Buy" and an average target price of $5.00.

Arbutus Biopharma Stock Performance

The firm has a market capitalization of $859.77 million, a PE ratio of -15.36 and a beta of 1.01. The company's 50 day simple moving average is $3.43 and its 200-day simple moving average is $3.36.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $10.74 million for the quarter, compared to analysts' expectations of $2.21 million. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. On average, equities research analysts forecast that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Arbutus Biopharma during the 4th quarter valued at $34,000. Cyndeo Wealth Partners LLC purchased a new stake in shares of Arbutus Biopharma in the 1st quarter worth about $35,000. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma during the 2nd quarter valued at about $38,000. Daiwa Securities Group Inc. lifted its position in 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 acquiring an additional 15,449 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in Arbutus Biopharma during the 4th quarter valued at about $55,000. Institutional investors own 43.79% of the company's stock.

About Arbutus Biopharma

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.

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