Arbutus Biopharma (NASDAQ:ABUS) Trading Down 2.8% - What's Next?

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report)'s share price fell 2.8% on Thursday . The company traded as low as $3.26 and last traded at $3.25. 171,703 shares were traded during trading, a decline of 82% from the average session volume of 962,541 shares. The stock had previously closed at $3.34.

Analyst Ratings Changes

A number of research analysts recently issued reports on ABUS shares. Chardan Capital restated a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 28th. Wall Street Zen raised shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Arbutus Biopharma Trading Down 2.2%

The firm has a 50-day moving average of $3.36 and a 200 day moving average of $3.32. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $599.49 million, a price-to-earnings ratio of -7.63 and a beta of 1.23.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $1.76 million during the quarter, compared to the consensus estimate of $2.54 million. Arbutus Biopharma had a negative return on equity of 75.51% and a negative net margin of 1,196.64%. As a group, equities analysts predict that Arbutus Biopharma Corporation will post -0.39 EPS for the current fiscal year.

Institutional Trading of Arbutus Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cyndeo Wealth Partners LLC acquired a new position in shares of Arbutus Biopharma during the first quarter valued at approximately $35,000. E Fund Management Co. Ltd. acquired a new stake in Arbutus Biopharma in the fourth quarter worth approximately $34,000. Xponance Inc. acquired a new stake in Arbutus Biopharma in the fourth quarter worth approximately $34,000. Raymond James Financial Inc. acquired a new stake in Arbutus Biopharma in the fourth quarter worth approximately $34,000. Finally, Cibc World Markets Corp acquired a new stake in Arbutus Biopharma in the fourth quarter worth approximately $45,000. 43.79% of the stock is currently owned by institutional investors.

Arbutus Biopharma Company Profile

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.