Arbutus Biopharma (NASDAQ:ABUS) Sees Unusually-High Trading Volume – Here’s Why

Arbutus Biopharma Co. (NASDAQ:ABUS) shares saw an uptick in trading volume on Tuesday . 691,968 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 686,821 shares.The stock last traded at $3.60 and had previously closed at $3.34.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABUS. JMP Securities upped their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Chardan Capital reiterated a “buy” rating and issued a $5.00 price objective (up from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Arbutus Biopharma has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Stock Up 7.9 %

The company has a market capitalization of $683.11 million, a P/E ratio of -8.34 and a beta of 1.78. The business has a fifty day moving average price of $3.31 and a 200 day moving average price of $3.66.

Institutional Investors Weigh In On Arbutus Biopharma

Several institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Arbutus Biopharma by 5.7% in the 4th quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 3,780 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Arbutus Biopharma by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 3,870 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in Arbutus Biopharma by 6.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 5,000 shares during the period. Creative Planning raised its position in Arbutus Biopharma by 13.8% during the 3rd quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after purchasing an additional 5,989 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Arbutus Biopharma by 18.7% during the 4th quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 6,644 shares during the period. 43.79% of the stock is currently owned by institutional investors.

About Arbutus Biopharma

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.