Arbutus Biopharma (NASDAQ:ABUS) Sees Strong Trading Volume – Still a Buy?

Arbutus Biopharma Corporation (NASDAQ:ABUS) saw unusually-high trading volume on Monday . Approximately 3,634,611 shares traded hands during trading, an increase of 72% from the previous session’s volume of 2,115,477 shares.The stock last traded at $5.2130 and had previously closed at $5.21.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Arbutus Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Arbutus Biopharma Trading Up 0.1%

The business has a 50 day simple moving average of $4.62 and a 200-day simple moving average of $4.45. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.59 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The business had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $0.70 million.

Arbutus Biopharma declared that its Board of Directors has approved a stock repurchase program on Friday, August 21st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Arbutus Biopharma

A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its holdings in shares of Arbutus Biopharma by 9.2% during the 4th quarter. Morgan Stanley now owns 26,702,776 shares of the biopharmaceutical company’s stock worth $128,440,000 after buying an additional 2,252,164 shares during the last quarter. Two Seas Capital LP acquired a new position in Arbutus Biopharma in the second quarter valued at $91,659,000. Whitefort Capital Management LP acquired a new position in Arbutus Biopharma in the second quarter valued at $75,812,453,000. BlackRock Inc. purchased a new stake in Arbutus Biopharma during the second quarter valued at about $66,077,000. Finally, Rubric Capital Management LP grew its position in Arbutus Biopharma by 320.6% during the first quarter. Rubric Capital Management LP now owns 6,626,389 shares of the biopharmaceutical company’s stock valued at $29,819,000 after acquiring an additional 5,051,013 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.