Short Interest in Arbutus Biopharma Co. (NASDAQ:ABUS) Expands By 8.3%

Arbutus Biopharma Co. (NASDAQ:ABUS) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 6,560,000 shares, an increase of 8.3% from the August 31st total of 6,060,000 shares. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is currently 5.6 days.

Analyst Upgrades and Downgrades

Several research firms have commented on ABUS. Jefferies Financial Group raised their price objective on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, June 6th. Chardan Capital reiterated a “buy” rating and set a $4.00 price objective on shares of Arbutus Biopharma in a research note on Wednesday, June 5th. Finally, JMP Securities upped their target price on shares of Arbutus Biopharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.25.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of ABUS. BNP Paribas Financial Markets grew its stake in Arbutus Biopharma by 20.5% in the fourth quarter. BNP Paribas Financial Markets now owns 292,045 shares of the biopharmaceutical company’s stock worth $730,000 after purchasing an additional 49,745 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Arbutus Biopharma by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 12,833 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Arbutus Biopharma in the 1st quarter worth approximately $266,000. Verus Capital Partners LLC increased its holdings in shares of Arbutus Biopharma by 30.5% in the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 9,800 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Arbutus Biopharma by 22.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 6,649 shares in the last quarter. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

Shares of ABUS opened at $3.85 on Tuesday. Arbutus Biopharma has a one year low of $1.69 and a one year high of $4.72. The stock has a 50-day moving average price of $3.94 and a 200 day moving average price of $3.34.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $1.73 million during the quarter, compared to the consensus estimate of $1.54 million. Arbutus Biopharma had a negative return on equity of 66.68% and a negative net margin of 766.20%. During the same quarter last year, the firm posted ($0.10) EPS. On average, equities research analysts anticipate that Arbutus Biopharma will post -0.38 earnings per share for the current year.

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.