Arbutus Biopharma (NASDAQ:ABUS) Hits New 52-Week High at $3.25

Shares of Arbutus Biopharma Co. (NASDAQ:ABUSGet Free Report) reached a new 52-week high on Wednesday . The company traded as high as $3.25 and last traded at $2.98, with a volume of 6965681 shares. The stock had previously closed at $2.52.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Chardan Capital reissued a “buy” rating and issued a $4.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 1st. HC Wainwright cut their price objective on shares of Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, March 1st.

Get Our Latest Stock Analysis on ABUS

Arbutus Biopharma Stock Up 15.9 %

The company’s fifty day moving average price is $2.65 and its 200 day moving average price is $2.26. The company has a market capitalization of $524.11 million, a P/E ratio of -6.82 and a beta of 2.03.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of $2.15 million during the quarter, compared to analyst estimates of $4.74 million. Arbutus Biopharma had a negative net margin of 401.57% and a negative return on equity of 57.82%. During the same quarter last year, the business earned ($0.14) EPS. Research analysts predict that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Arbutus Biopharma

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in Arbutus Biopharma by 37.9% in the 1st quarter. JPMorgan Chase & Co. now owns 58,926 shares of the biopharmaceutical company’s stock valued at $175,000 after acquiring an additional 16,189 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Arbutus Biopharma by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 367,189 shares of the biopharmaceutical company’s stock worth $1,094,000 after buying an additional 14,236 shares during the last quarter. Bank of Montreal Can boosted its stake in Arbutus Biopharma by 34.5% in the first quarter. Bank of Montreal Can now owns 318,580 shares of the biopharmaceutical company’s stock valued at $953,000 after acquiring an additional 81,722 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Arbutus Biopharma by 297.1% in the 1st quarter. MetLife Investment Management LLC now owns 39,628 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 29,648 shares during the period. Finally, Rhumbline Advisers grew its holdings in Arbutus Biopharma by 14.6% during the first quarter. Rhumbline Advisers now owns 103,778 shares of the biopharmaceutical company’s stock valued at $309,000 after purchasing an additional 13,243 shares during the period. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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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