Arbutus Biopharma (NASDAQ:ABUS) Sees Unusually-High Trading Volume – Should You Buy?

Arbutus Biopharma Co. (NASDAQ:ABUS) saw unusually-high trading volume on Tuesday . Approximately 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.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABUS. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target (up from $4.50) on shares of Arbutus Biopharma in a research note on Wednesday, November 20th. JMP Securities lifted their target price on shares of Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to 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 stock has a market cap of $683.11 million, a P/E ratio of -8.34 and a beta of 1.78. The business has a 50-day simple moving average of $3.31 and a 200-day simple moving average of $3.66.

Hedge Funds Weigh In On Arbutus Biopharma

Large investors have recently made changes to their positions in the business. E Fund Management Co. Ltd. acquired a new position in shares of Arbutus Biopharma during the fourth quarter worth approximately $34,000. Xponance Inc. bought a new stake in Arbutus Biopharma in the 4th quarter valued at $34,000. Raymond James Financial Inc. acquired a new position in shares of Arbutus Biopharma in the 4th quarter valued at $34,000. Cibc World Markets Corp bought a new position in shares of Arbutus Biopharma during the 4th quarter worth about $45,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Arbutus Biopharma during the 4th quarter valued at about $55,000. Institutional investors and hedge funds 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.