Arbutus Biopharma (NASDAQ:ABUS) Sets New 12-Month High at $3.25

Arbutus Biopharma Co. (NASDAQ:ABUS)’s share price 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 traded. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABUS. JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a report on Thursday. HC Wainwright cut their price objective on shares of Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research note on Friday, March 1st.

Arbutus Biopharma Stock Up 1.0 %

The firm’s 50 day simple moving average is $2.67 and its two-hundred day simple moving average is $2.27.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $2.15 million for 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 period in the previous year, the firm posted ($0.14) EPS. Equities analysts expect that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently added to or reduced their stakes in ABUS. JPMorgan Chase & Co. lifted its position in shares of Arbutus Biopharma by 37.9% during 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 during the period. Bank of New York Mellon Corp grew its position 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 valued at $1,094,000 after buying an additional 14,236 shares during the period. Bank of Montreal Can grew its position in Arbutus Biopharma by 34.5% during the first quarter. Bank of Montreal Can now owns 318,580 shares of the biopharmaceutical company’s stock valued at $953,000 after buying an additional 81,722 shares during the period. MetLife Investment Management LLC lifted its holdings in Arbutus Biopharma by 297.1% during the first quarter. MetLife Investment Management LLC now owns 39,628 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 29,648 shares during the last quarter. Finally, Rhumbline Advisers lifted 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 last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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.