Arbutus Biopharma (NASDAQ:ABUS) Hits New 52-Week High at $3.25

Arbutus Biopharma Co. (NASDAQ:ABUS - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $3.25 and last traded at $2.98, with a volume of 6965681 shares traded. The stock had previously closed at $2.52.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABUS shares. Chardan Capital restated a "buy" rating and set a $4.00 target price on shares of Arbutus Biopharma in a research report on Friday, March 1st. HC Wainwright decreased their target price on shares of Arbutus Biopharma from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, March 1st.

Arbutus Biopharma Stock Performance

The company has a market cap of $524.11 million, a price-to-earnings ratio of -6.64 and a beta of 2.03. The stock's fifty day simple moving average is $2.66 and its two-hundred day simple moving average is $2.26.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.12). The company had revenue of $2.15 million for the quarter, compared to analyst estimates of $4.74 million. Arbutus Biopharma had a negative net margin of 401.57% and a negative return on equity of 57.82%. During the same quarter last year, the business earned ($0.14) EPS. Analysts predict that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP increased its position in shares of Arbutus Biopharma by 45.8% in the 3rd quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company's stock worth $8,424,000 after purchasing an additional 1,302,978 shares during the last quarter. Barclays PLC grew its position in Arbutus Biopharma by 175.3% in the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company's stock worth $268,000 after buying an additional 83,950 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new position in Arbutus Biopharma in the fourth quarter worth approximately $56,000. Clear Harbor Asset Management LLC grew its position in Arbutus Biopharma by 5.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company's stock worth $348,000 after buying an additional 7,500 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Arbutus Biopharma during the 2nd quarter worth approximately $608,000. Hedge funds and other institutional investors own 43.79% of the company's stock.

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.