Arbutus Biopharma (NASDAQ:ABUS) Sees Strong Trading Volume – Time to Buy?

Arbutus Biopharma Co. (NASDAQ:ABUS) saw an uptick in trading volume on Tuesday . 1,058,583 shares changed hands during trading, an increase of 54% from the previous session’s volume of 689,275 shares.The stock last traded at $3.45 and had previously closed at $3.27.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Monday, November 18th. Chardan Capital reissued a “buy” rating and set a $5.00 price objective (up previously from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. Finally, JMP Securities boosted their price target on Arbutus Biopharma to $5.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Arbutus Biopharma currently has an average rating of “Moderate Buy” and an average price target of $5.50.

Arbutus Biopharma Price Performance

The firm has a market capitalization of $634.80 million, a PE ratio of -7.79 and a beta of 1.78. The company has a 50-day moving average price of $3.50 and a 200 day moving average price of $3.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $4,667,000 after buying an additional 831,663 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Arbutus Biopharma in the 3rd quarter worth approximately $754,000. State Street Corp raised its holdings in shares of Arbutus Biopharma by 50.2% during the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after acquiring an additional 1,472,652 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Arbutus Biopharma during the 2nd quarter valued at approximately $5,195,000. Finally, Wellington Management Group LLP boosted its position in shares of Arbutus Biopharma by 4.6% during the 3rd quarter. Wellington Management Group LLP now owns 496,818 shares of the biopharmaceutical company’s stock valued at $1,913,000 after acquiring an additional 21,807 shares during the last quarter. Institutional investors own 43.79% of the company’s stock.

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.