Arbutus Biopharma (NASDAQ:ABUS) Sees Large Volume Increase – What’s Next?

Shares of Arbutus Biopharma Co. (NASDAQ:ABUS) saw strong trading volume on Tuesday . 1,058,583 shares traded hands during mid-day trading, an increase of 54% from the previous session’s volume of 689,275 shares.The stock last traded at $3.45 and had previously closed at $3.27.

Analysts Set New Price Targets

ABUS has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Monday, November 18th. JMP Securities upped their price objective on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Chardan Capital reiterated a “buy” rating and issued a $5.00 target price (up previously from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arbutus Biopharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Trading Down 1.8 %

The stock has a market capitalization of $634.80 million, a PE ratio of -7.79 and a beta of 1.78. The business’s 50 day moving average is $3.50 and its 200 day moving average is $3.71.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Arbutus Biopharma by 21.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,729 shares of the biopharmaceutical company’s stock valued at $1,526,000 after acquiring an additional 86,104 shares during the period. Rhumbline Advisers increased its stake in Arbutus Biopharma by 8.6% in the 2nd quarter. Rhumbline Advisers now owns 185,067 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 14,607 shares during the period. XTX Topco Ltd bought a new stake in Arbutus Biopharma during the 2nd quarter valued at about $53,000. Rubric Capital Management LP purchased a new stake in Arbutus Biopharma in the 2nd quarter valued at about $5,195,000. Finally, Bank of Montreal Can grew its stake in Arbutus Biopharma by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 354,813 shares of the biopharmaceutical company’s stock worth $1,100,000 after acquiring an additional 20,548 shares in the last quarter. Hedge funds and other institutional investors 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.