Arbutus Biopharma Corporation (NASDAQ:ABUS) Sees Significant Growth in Short Interest

Arbutus Biopharma Corporation (NASDAQ:ABUS) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 34,053,358 shares, an increase of 84.2% from the September 15th total of 18,484,910 shares. Approximately 21.5% of the shares of the stock are short sold. Based on an average trading volume of 9,652,199 shares, the short-interest ratio is presently 3.5 days.

Arbutus Biopharma Stock Down 1.6%

Shares of ABUS traded down $0.07 during trading hours on Friday, reaching $4.22. 4,541,643 shares of the company traded hands, compared to its average volume of 8,224,091. The stock has a market capitalization of $836.02 million, a PE ratio of 5.34 and a beta of 0.76. The stock has a fifty day simple moving average of $4.82 and a 200 day simple moving average of $4.59. Arbutus Biopharma has a fifty-two week low of $3.50 and a fifty-two week high of $5.45.

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

Arbutus Biopharma declared that its Board of Directors has authorized a share repurchase program on Friday, August 21st that allows the company to buy back $0.00 in outstanding shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Share buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Institutional Investors Weigh In On Arbutus Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in ABUS. Assenagon Asset Management S.A. purchased a new stake in Arbutus Biopharma during the 3rd quarter worth $2,967,000. State of Alaska Department of Revenue acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at $47,000. Squarepoint Ops LLC acquired a new stake in Arbutus Biopharma in the 2nd quarter valued at $999,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Arbutus Biopharma in the 2nd quarter valued at $201,000. Finally, AXQ Capital LP acquired a new stake in Arbutus Biopharma in the 2nd quarter valued at $120,000. Hedge funds and other institutional investors own 43.79% of the company’s stock.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection and other viral diseases. The company’s research programs are based primarily on RNA interference (RNAi) therapeutics and small-molecule compounds designed to suppress viral replication and address the underlying biology of persistent infection.

Arbutus’ HBV pipeline has included AB-729, an investigational subcutaneously administered RNAi therapeutic intended to reduce hepatitis B surface antigen, and AB-836, an investigational oral capsid inhibitor designed to interfere with HBV replication.