ABUS has been the subject of several other research reports. William Blair reissued an outperform rating on shares of Arbutus Biopharma Corp. in a research note on Sunday, August 21st. Zacks Investment Research raised Arbutus Biopharma Corp. from a sell rating to a hold rating in a research note on Wednesday, August 24th. Wedbush reissued an outperform rating and set a $20.00 target price (up previously from $13.00) on shares of Arbutus Biopharma Corp. in a research note on Friday, August 5th. Finally, Leerink Swann cut Arbutus Biopharma Corp. from an outperform rating to a market perform rating and set a $5.00 target price for the company. in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $7.63.
Arbutus Biopharma Corp. (NASDAQ:ABUS) traded down 11.57% on Friday, hitting $3.44. The stock had a trading volume of 860,300 shares. The company’s market cap is $188.50 million. The firm’s 50-day moving average is $3.79 and its 200-day moving average is $4.06. Arbutus Biopharma Corp. has a 52-week low of $2.72 and a 52-week high of $6.74.
Arbutus Biopharma Corp. (NASDAQ:ABUS) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by $0.36. Arbutus Biopharma Corp. had a negative return on equity of 8.87% and a negative net margin of 1,017.01%. Equities research analysts anticipate that Arbutus Biopharma Corp. will post ($3.35) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Arbutus Biopharma Corp. during the second quarter worth about $2,822,000. AXA raised its position in Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock worth $2,757,000 after buying an additional 11,062 shares during the period. Suffolk Capital Management LLC raised its position in Arbutus Biopharma Corp. by 7.6% in the second quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock worth $1,538,000 after buying an additional 31,023 shares during the period. I.G. Investment Management LTD. bought a new position in Arbutus Biopharma Corp. during the second quarter worth about $870,000. Finally, K2 Principal Fund L.P. raised its position in Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 33,796 shares during the period. Hedge funds and other institutional investors own 31.87% of the company’s stock.
About Arbutus Biopharma Corp.
Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).
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