Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase - Still a Buy?

Key Points

• Trading volume surged 72% to 3.63 million shares, while Arbutus Biopharma’s stock was essentially unchanged at $5.21.
• Analyst sentiment is mixed but leans positive, with one Buy and one Hold rating producing a “Moderate Buy” consensus; the average price target is $5.00.
• The company reported a quarterly loss of $0.03 per share, missing estimates by $0.01, though revenue of $1.01 million exceeded expectations. Institutional investors own approximately 43.79% of the stock.

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report) saw strong trading volume on Monday . 3,634,611 shares traded hands during 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.

Analysts Set New Price Targets

ABUS has been the topic of several recent research reports. Weiss Ratings upgraded shares of Arbutus Biopharma from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Arbutus Biopharma from a "buy" rating to a "hold" rating in a research 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Arbutus Biopharma Stock Up 0.1%

The business has a 50-day moving average price of $4.62 and a 200-day moving average price of $4.45. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.59 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last announced its quarterly earnings data 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 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 analysts' expectations of $0.70 million.

Arbutus Biopharma announced that its board has authorized a stock buyback plan on Friday, August 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ABUS. Mercer Global Advisors Inc. ADV raised its position in Arbutus Biopharma by 9.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 38,959 shares of the biopharmaceutical company's stock worth $177,000 after acquiring an additional 3,280 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Arbutus Biopharma by 10.5% during the 4th quarter. ProShare Advisors LLC now owns 36,161 shares of the biopharmaceutical company's stock worth $174,000 after purchasing an additional 3,446 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Arbutus Biopharma by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,350 shares of the biopharmaceutical company's stock worth $183,000 after purchasing an additional 3,540 shares in the last quarter. Inceptionr LLC grew its stake in shares of Arbutus Biopharma by 14.6% during the 1st quarter. Inceptionr LLC now owns 32,580 shares of the biopharmaceutical company's stock worth $147,000 after purchasing an additional 4,162 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in shares of Arbutus Biopharma by 6.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 88,454 shares of the biopharmaceutical company's stock worth $273,000 after purchasing an additional 5,590 shares during the period. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

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