Arbutus Biopharma Co. (NASDAQ:ABUS) Short Interest Update

Arbutus Biopharma Co. (NASDAQ:ABUS) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 5,030,000 shares, a decrease of 5.8% from the May 15th total of 5,340,000 shares. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is presently 4.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP raised its holdings in shares of Arbutus Biopharma by 45.8% in the third quarter. Hudson Bay Capital Management LP now owns 4,149,904 shares of the biopharmaceutical company’s stock worth $8,424,000 after buying an additional 1,302,978 shares during the last quarter. Barclays PLC raised its holdings in shares of Arbutus Biopharma by 175.3% in the third quarter. Barclays PLC now owns 131,845 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 83,950 shares during the last quarter. Premier Path Wealth Partners LLC purchased a new position in shares of Arbutus Biopharma in the fourth quarter worth $56,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Arbutus Biopharma by 351.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 15,104 shares during the period. Finally, Clear Harbor Asset Management LLC increased its stake in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock worth $348,000 after acquiring an additional 7,500 shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABUS. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Thursday, June 6th. JMP Securities reissued a “market outperform” rating and set a $4.00 target price on shares of Arbutus Biopharma in a research report on Thursday, April 4th. Finally, Chardan Capital reissued a “buy” rating and set a $4.00 target price on shares of Arbutus Biopharma in a research report on Wednesday, June 5th.

Arbutus Biopharma Trading Down 2.5 %

NASDAQ ABUS opened at $3.06 on Tuesday. The company has a fifty day simple moving average of $3.02 and a two-hundred day simple moving average of $2.70. The stock has a market cap of $577.47 million, a P/E ratio of -6.95 and a beta of 1.98. Arbutus Biopharma has a 12-month low of $1.69 and a 12-month high of $3.64.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The business had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $2.16 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. As a group, sell-side analysts forecast that Arbutus Biopharma will post -0.39 earnings per share for the current year.

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.