Arbutus Biopharma (NASDAQ:ABUS) Hits New 52-Week High at $3.44

Arbutus Biopharma Co. (NASDAQ:ABUSGet Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $3.44 and last traded at $3.41, with a volume of 33705 shares. The stock had previously closed at $3.42.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABUS. JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, April 4th. HC Wainwright decreased their price target on shares of Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, Chardan Capital reiterated a “buy” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research report on Wednesday.

Read Our Latest Stock Analysis on Arbutus Biopharma

Arbutus Biopharma Stock Performance

The business’s 50 day simple moving average is $2.95 and its 200 day simple moving average is $2.62.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. The business had revenue of $1.53 million during the quarter, compared to the consensus estimate of $2.16 million. As a group, equities research analysts predict that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Institutional Trading of Arbutus Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Walleye Trading LLC acquired a new stake in Arbutus Biopharma during the 1st quarter worth about $36,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arbutus Biopharma by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 15,104 shares during the period. PFG Investments LLC purchased a new position in Arbutus Biopharma during the first quarter valued at approximately $50,000. Premier Path Wealth Partners LLC purchased a new position in Arbutus Biopharma during the fourth quarter valued at approximately $56,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Arbutus Biopharma by 22.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 6,649 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

About Arbutus Biopharma

(Get Free Report)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.

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