Arbutus Biopharma Corp (NASDAQ:ABUS) traded down 6.8% during mid-day trading on Monday . The company traded as low as $2.64 and last traded at $3.03, 754,015 shares traded hands during trading. An increase of 10% from the average session volume of 685,198 shares. The stock had previously closed at $3.25.
A number of research analysts have issued reports on the company. Robert W. Baird assumed coverage on Arbutus Biopharma in a report on Wednesday, February 19th. They set an “outperform” rating and a $8.00 price objective for the company. Zacks Investment Research raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Monday, January 13th. ValuEngine cut Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JMP Securities raised Arbutus Biopharma from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Wednesday, February 5th. Finally, B. Riley reaffirmed a “buy” rating and issued a $6.00 price target on shares of Arbutus Biopharma in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.15.
The stock has a fifty day moving average of $3.07 and a 200-day moving average of $2.00. The company has a quick ratio of 10.70, a current ratio of 10.70 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $201.86 million, a P/E ratio of -1.08 and a beta of 2.45.Several institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in shares of Arbutus Biopharma by 284.7% in the fourth quarter. Jennison Associates LLC now owns 2,943,789 shares of the biopharmaceutical company’s stock valued at $8,184,000 after buying an additional 2,178,665 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Arbutus Biopharma in the fourth quarter valued at about $5,274,000. Morgan Stanley raised its holdings in shares of Arbutus Biopharma by 66.7% in the second quarter. Morgan Stanley now owns 1,609,886 shares of the biopharmaceutical company’s stock valued at $3,349,000 after buying an additional 643,955 shares during the last quarter. Cowen AND Company LLC bought a new position in shares of Arbutus Biopharma in the fourth quarter valued at about $2,575,000. Finally, Millennium Management LLC raised its holdings in shares of Arbutus Biopharma by 75.1% in the third quarter. Millennium Management LLC now owns 356,066 shares of the biopharmaceutical company’s stock valued at $543,000 after buying an additional 152,714 shares during the last quarter. 38.47% of the stock is owned by institutional investors and hedge funds.
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.