Arbutus Biopharma (NASDAQ:ABUS) Shares Gap Up - Here's Why

Key Points

• Arbutus Biopharma shares gapped up in premarket trading, opening at $4.74 after closing at $4.56 the previous day and last trading near $4.72.
• Analyst sentiment was mixed, with Wall Street Zen upgrading the stock to buy while Weiss Ratings reiterated a sell; the consensus rating remains Hold with a $5.00 target price.
• The company recently reported quarterly EPS of $0.87 on revenue of $179.13 million, and institutional ownership remains significant at about 43.79%.

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $4.56, but opened at $4.74. Arbutus Biopharma shares last traded at $4.7150, with a volume of 243,119 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABUS shares. Wall Street Zen raised shares of Arbutus Biopharma from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arbutus Biopharma in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.00.

Arbutus Biopharma Price Performance

The company has a market cap of $929.43 million, a PE ratio of 5.67 and a beta of 0.62. The firm's 50 day moving average is $4.50 and its 200 day moving average is $4.43.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 EPS for the quarter. The firm had revenue of $179.13 million for the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. As a group, analysts anticipate that Arbutus Biopharma Corporation will post -0.16 EPS for the current year.

Institutional Trading of Arbutus Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma during the second quarter valued at $38,000. Voleon Capital Management LP purchased a new position in shares of Arbutus Biopharma during the third quarter valued at approximately $47,000. Cibc World Markets Corp bought a new position in Arbutus Biopharma during the fourth quarter valued at approximately $48,000. Principal Financial Group Inc. purchased a new stake in Arbutus Biopharma in the first quarter worth approximately $49,000. Finally, Daiwa Securities Group Inc. grew its position in Arbutus Biopharma by 3,911.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 15,449 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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