Arbutus Biopharma (NASDAQ:ABUS) Stock Price Down 6.3% – Should You Sell?

Arbutus Biopharma Co. (NASDAQ:ABUS) shares dropped 6.3% during trading on Monday . The company traded as low as $2.89 and last traded at $3.03. Approximately 401,394 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 980,240 shares. The stock had previously closed at $3.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 28th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Arbutus Biopharma presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Trading Up 10.1 %

The company has a market capitalization of $606.99 million, a price-to-earnings ratio of -7.37 and a beta of 1.45. The stock’s fifty day simple moving average is $3.33 and its 200-day simple moving average is $3.51.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. The business had revenue of $1.57 million for the quarter, compared to analysts’ expectations of $2.20 million. On average, analysts anticipate that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Institutional Trading of Arbutus Biopharma

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Arbutus Biopharma by 50.2% in the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after purchasing an additional 1,472,652 shares during the last quarter. Rangeley Capital LLC acquired a new position in shares of Arbutus Biopharma during the fourth quarter worth $4,771,000. Charles Schwab Investment Management Inc. increased its holdings in Arbutus Biopharma by 218.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after buying an additional 831,663 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Arbutus Biopharma by 900.4% in the fourth quarter. JPMorgan Chase & Co. now owns 896,258 shares of the biopharmaceutical company’s stock valued at $2,931,000 after buying an additional 806,672 shares in the last quarter. Finally, Whitefort Capital Management LP lifted its holdings in Arbutus Biopharma by 2.9% during the 4th quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company’s stock worth $43,301,000 after buying an additional 373,949 shares during the last quarter. 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.