Arbutus Biopharma (NASDAQ:ABUS) Trading 4.8% Higher - Here's What Happened

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) shares were up 4.8% during trading on Monday . The company traded as high as $3.31 and last traded at $3.30. Approximately 644,251 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 987,692 shares. The stock had previously closed at $3.15.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com upgraded Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. HC Wainwright restated a "buy" rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Finally, Chardan Capital reiterated a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5.50.

Arbutus Biopharma Trading Down 1.5 %

The firm has a market capitalization of $629.97 million, a price-to-earnings ratio of -7.65 and a beta of 1.45. The company has a 50-day moving average of $3.28 and a 200-day moving average of $3.44.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. The company had revenue of $1.57 million for the quarter, compared to the consensus estimate of $2.20 million. On average, research analysts forecast that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Whitefort Capital Management LP lifted its holdings in shares of Arbutus Biopharma by 2.9% in the 4th quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company's stock worth $43,301,000 after purchasing an additional 373,949 shares during the last quarter. Vanguard Group Inc. lifted its stake in Arbutus Biopharma by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,980,864 shares of the biopharmaceutical company's stock valued at $29,367,000 after buying an additional 62,282 shares during the last quarter. Two Seas Capital LP boosted its holdings in shares of Arbutus Biopharma by 4.2% during the fourth quarter. Two Seas Capital LP now owns 8,740,956 shares of the biopharmaceutical company's stock valued at $28,583,000 after acquiring an additional 353,568 shares during the period. Geode Capital Management LLC grew its position in shares of Arbutus Biopharma by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,482,136 shares of the biopharmaceutical company's stock worth $11,390,000 after acquiring an additional 33,536 shares during the last quarter. Finally, BlackBarn Capital Partners LP increased its holdings in shares of Arbutus Biopharma by 13.1% in the 4th quarter. BlackBarn Capital Partners LP now owns 2,341,871 shares of the biopharmaceutical company's stock worth $7,658,000 after acquiring an additional 270,971 shares during the period. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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.