Arbutus Biopharma (NASDAQ:ABUS) Stock Jumps 5.3% - What's Next?

Key Points

• Arbutus Biopharma shares rose 5.3% to about $4.94 in mid-day trading, with volume below its average session level.
• Analyst sentiment remains moderately positive: the stock has a consensus “Moderate Buy” rating and an average price target of $5.00, despite one recent downgrade to “Hold.”
• The company reported a quarterly loss of $0.03 per share, missing estimates by $0.01, while revenue of $1.01 million exceeded expectations. Arbutus is focused on hepatitis B treatments, including AB-729 and AB-836.

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report) rose 5.3% during mid-day trading on Wednesday. The company traded as high as $4.93 and last traded at $4.9370. 1,416,271 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 2,737,937 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

ABUS has been the topic of several recent research reports. Wall Street Zen cut shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings upgraded Arbutus Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Arbutus Biopharma currently has a consensus rating of "Moderate Buy" and an average target price of $5.00.

Arbutus Biopharma Trading Up 4.8%

The firm has a market capitalization of $973.69 million, a price-to-earnings ratio of 6.22 and a beta of 0.62. The stock's 50-day moving average is $4.84 and its 200-day moving average is $4.59.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The firm had revenue of $1.01 million for the quarter, compared to analyst estimates of $0.70 million.

Arbutus Biopharma declared that its board has initiated a stock buyback plan on Friday, August 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently added to or reduced their stakes in the business. Stoneridge Investment Partners LLC acquired a new position in Arbutus Biopharma in the 2nd quarter valued at approximately $44,000. Principal Financial Group Inc. acquired a new position in shares of Arbutus Biopharma during the first quarter worth $49,000. Walleye Trading LLC bought a new stake in shares of Arbutus Biopharma in the second quarter worth $67,000. E Fund Management Co. Ltd. bought a new stake in shares of Arbutus Biopharma in the second quarter worth $69,000. Finally, Cura Wealth Advisors LLC acquired a new stake in Arbutus Biopharma in the second quarter valued at $72,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

About Arbutus Biopharma

Arbutus Biopharma Corporation NASDAQ: ABUS is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research is aimed at addressing multiple stages of the HBV lifecycle and developing therapies that may improve long-term viral suppression and support a functional cure.

The company's pipeline has included AB-729, an RNA interference-based therapy designed to reduce hepatitis B surface antigen, and AB-836, an orally administered capsid assembly modulator intended to interfere with HBV replication.

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