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

Arbutus Biopharma Co. (NASDAQ:ABUS) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 8,410,000 shares, a growth of 16.6% from the February 13th total of 7,210,000 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average daily volume of 860,500 shares, the days-to-cover ratio is currently 9.8 days.

Arbutus Biopharma Price Performance

Shares of Arbutus Biopharma stock opened at $3.20 on Wednesday. The stock’s 50 day simple moving average is $3.33 and its 200-day simple moving average is $3.61. The stock has a market cap of $606.37 million, a P/E ratio of -7.44 and a beta of 1.93. Arbutus Biopharma has a 1-year low of $2.30 and a 1-year high of $4.73.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABUS. StockNews.com downgraded shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a research note on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, January 21st. Finally, Chardan Capital reissued a “buy” rating and set a $5.00 target price (up previously from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Arbutus Biopharma has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ABUS. Invesco Ltd. lifted its position in shares of Arbutus Biopharma by 5.7% during the 4th quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 3,780 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arbutus Biopharma by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 3,870 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Arbutus Biopharma by 6.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 5,000 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Arbutus Biopharma by 18.7% in the 4th quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 6,644 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Arbutus Biopharma by 10.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 8,308 shares in the last quarter. Institutional investors and hedge funds own 43.79% of the company’s stock.

Arbutus Biopharma Company Profile

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.