Arbutus Biopharma (NASDAQ:ABUS) Shares Down 4.6% - Should You Sell?

Key Points

• Arbutus Biopharma's stock price decreased by 4.6%, closing at $4.68 with a significant decline in trading volume compared to its average.
• Analysts have mixed ratings for the company, with Wall Street Zen downgrading it from a "buy" to a "hold" while Chardan Capital maintained a "buy" rating with a $5.00 price target.
• Arbutus Biopharma reported a small profit of $0.01 per share for its recent quarter and its revenue exceeded expectations, standing at $10.74 million, compared to an estimated $2.21 million.

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report)'s stock price dropped 4.6% during trading on Friday . The company traded as low as $4.70 and last traded at $4.68. Approximately 93,731 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 936,535 shares. The stock had previously closed at $4.90.

Analyst Ratings Changes

ABUS has been the topic of a number of research reports. Wall Street Zen downgraded Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Chardan Capital reaffirmed a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $5.00.

Arbutus Biopharma Stock Up 1.7%

The stock has a market cap of $857.86 million, a P/E ratio of -15.60 and a beta of 1.01. The business has a 50-day simple moving average of $3.57 and a 200-day simple moving average of $3.40.

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

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently modified their holdings of the business. Whitefort Capital Management LP boosted its position in shares of Arbutus Biopharma by 2.9% in the fourth quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company's stock valued at $43,301,000 after acquiring an additional 373,949 shares during the period. Two Seas Capital LP raised its stake in shares of Arbutus Biopharma by 10.3% in the second quarter. Two Seas Capital LP now owns 10,443,317 shares of the biopharmaceutical company's stock valued at $32,270,000 after purchasing an additional 977,361 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arbutus Biopharma by 2.7% in the second quarter. Geode Capital Management LLC now owns 3,637,021 shares of the biopharmaceutical company's stock valued at $11,240,000 after purchasing an additional 95,876 shares in the last quarter. Woodline Partners LP raised its stake in shares of Arbutus Biopharma by 173.3% in the first quarter. Woodline Partners LP now owns 2,655,738 shares of the biopharmaceutical company's stock valued at $9,269,000 after purchasing an additional 1,684,110 shares in the last quarter. Finally, BlackBarn Capital Partners LP raised its stake in shares of Arbutus Biopharma by 11.2% in the second quarter. BlackBarn Capital Partners LP now owns 2,603,521 shares of the biopharmaceutical company's stock valued at $8,045,000 after purchasing an additional 261,650 shares in the last quarter. 43.79% of the stock is owned by institutional investors.

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.