Arbutus Biopharma (NASDAQ:ABUS) Stock Price Up 6.3% – Time to Buy?

Arbutus Biopharma Co. (NASDAQ:ABUS) shares traded up 6.3% during mid-day trading on Thursday . The company traded as high as $3.44 and last traded at $3.39. 119,890 shares changed hands during trading, a decline of 88% from the average session volume of 1,021,157 shares. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

ABUS has been the topic of several research analyst reports. Chardan Capital restated 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. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Price Performance

The business’s 50 day moving average price is $3.33 and its 200 day moving average price is $3.63. The stock has a market capitalization of $628.17 million, a P/E ratio of -7.66 and a beta of 1.93.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. E Fund Management Co. Ltd. bought a new position in Arbutus Biopharma in the fourth quarter valued at about $34,000. Xponance Inc. purchased a new stake in shares of Arbutus Biopharma during the 4th quarter valued at about $34,000. Raymond James Financial Inc. bought a new position in shares of Arbutus Biopharma in the 4th quarter worth approximately $34,000. Cibc World Markets Corp purchased a new position in shares of Arbutus Biopharma in the fourth quarter worth approximately $45,000. Finally, Hsbc Holdings PLC purchased a new stake in Arbutus Biopharma during the fourth quarter valued at approximately $55,000. 43.79% of the stock is currently owned by hedge funds and other 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.