Arbutus Biopharma Corp (NASDAQ:ABUS)’s share price rose 5.6% during trading on Friday . The stock traded as high as $1.54 and last traded at $1.50, approximately 141,526 shares changed hands during mid-day trading. A decline of 59% from the average daily volume of 341,151 shares. The stock had previously closed at $1.42.
A number of research analysts have recently issued reports on ABUS shares. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, July 16th. Zacks Investment Research cut Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Monday. Finally, ValuEngine upgraded Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $5.19.
The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.32 and a current ratio of 11.32. The firm has a market capitalization of $85.28 million, a PE ratio of -1.47 and a beta of 1.87. The stock has a fifty day moving average price of $1.91 and a 200-day moving average price of $2.80.
Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.11). Arbutus Biopharma had a negative net margin of 1,948.40% and a negative return on equity of 125.64%. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.88 million. Research analysts expect that Arbutus Biopharma Corp will post -1.41 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in Arbutus Biopharma by 15.8% in the fourth quarter. Legal & General Group Plc now owns 28,407 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 3,867 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Arbutus Biopharma by 21.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 34,500 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 6,000 shares during the last quarter. Alps Advisors Inc. increased its holdings in Arbutus Biopharma by 4.7% in the first quarter. Alps Advisors Inc. now owns 134,053 shares of the biopharmaceutical company’s stock valued at $480,000 after buying an additional 6,016 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in Arbutus Biopharma in the first quarter valued at $26,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Arbutus Biopharma by 40.4% during the second quarter. Jacobs Levy Equity Management Inc. now owns 30,593 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 8,797 shares during the last quarter. Institutional investors and hedge funds own 42.21% of the company’s stock.
About Arbutus Biopharma (NASDAQ:ABUS)
Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.
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