Arbutus Biopharma Co. (NASDAQ:ABUS) Short Interest Update

Arbutus Biopharma Co. (NASDAQ:ABUSGet Rating) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,920,000 shares, a drop of 11.1% from the August 15th total of 4,410,000 shares. Based on an average daily trading volume, of 830,700 shares, the days-to-cover ratio is presently 4.7 days.

Institutional Investors Weigh In On Arbutus Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of ABUS. Millennium Management LLC grew its holdings in Arbutus Biopharma by 106.3% during the second quarter. Millennium Management LLC now owns 4,159,064 shares of the biopharmaceutical company’s stock worth $11,271,000 after acquiring an additional 2,142,740 shares during the period. Assenagon Asset Management S.A. grew its holdings in Arbutus Biopharma by 2,347.7% during the first quarter. Assenagon Asset Management S.A. now owns 2,121,406 shares of the biopharmaceutical company’s stock worth $6,322,000 after acquiring an additional 2,034,737 shares during the period. Two Seas Capital LP grew its holdings in Arbutus Biopharma by 166.4% during the first quarter. Two Seas Capital LP now owns 2,199,069 shares of the biopharmaceutical company’s stock worth $6,553,000 after acquiring an additional 1,373,500 shares during the period. Goldman Sachs Group Inc. grew its holdings in Arbutus Biopharma by 122.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,541,185 shares of the biopharmaceutical company’s stock worth $4,592,000 after acquiring an additional 847,914 shares during the period. Finally, BlackRock Inc. grew its holdings in Arbutus Biopharma by 10.7% during the first quarter. BlackRock Inc. now owns 6,824,829 shares of the biopharmaceutical company’s stock worth $20,338,000 after acquiring an additional 658,480 shares during the period. 29.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JMP Securities cut their target price on Arbutus Biopharma from $10.00 to $9.00 and set a “market outperform” rating on the stock in a research note on Tuesday, June 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.13.

Arbutus Biopharma Stock Down 3.9 %

Shares of NASDAQ ABUS opened at $2.22 on Monday. Arbutus Biopharma has a fifty-two week low of $1.93 and a fifty-two week high of $6.50. The firm’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.57. The stock has a market cap of $332.89 million, a P/E ratio of -3.70 and a beta of 2.24.

Arbutus Biopharma (NASDAQ:ABUSGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Arbutus Biopharma had a negative net margin of 211.09% and a negative return on equity of 61.57%. During the same quarter in the previous year, the company earned ($0.23) EPS. On average, sell-side analysts anticipate that Arbutus Biopharma will post -0.44 earnings per share for the current fiscal year.

About Arbutus Biopharma

(Get Rating)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel covalently conjugated N-acetylgalactosamine (GalNAc) delivery technology; and AB-836, an oral capsid inhibitor that suppresses HBV DNA replication.

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