Arbutus Biopharma Co. (NASDAQ:ABUS) Short Interest Down 7.3% in November

Arbutus Biopharma Co. (NASDAQ:ABUS) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 6,060,000 shares, a decrease of 7.3% from the October 31st total of 6,540,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 5.3 days.

Institutional Trading of Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of ABUS. nVerses Capital LLC purchased a new stake in shares of Arbutus Biopharma during the second quarter valued at $34,000. Walleye Trading LLC purchased a new stake in Arbutus Biopharma during the 1st quarter valued at about $36,000. Helen Stephens Group LLC acquired a new position in shares of Arbutus Biopharma in the third quarter valued at about $50,000. XTX Topco Ltd purchased a new position in shares of Arbutus Biopharma in the second quarter worth about $53,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Arbutus Biopharma by 22.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 6,649 shares during the period. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABUS has been the subject of a number of research analyst reports. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Monday, November 18th. Chardan Capital reiterated a “buy” rating and set a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a report on Wednesday, November 20th. Jefferies Financial Group boosted their price target on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, JMP Securities upped their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Price Performance

Shares of ABUS stock opened at $3.46 on Tuesday. The stock’s fifty day moving average price is $3.80 and its 200 day moving average price is $3.68. Arbutus Biopharma has a 1-year low of $1.98 and a 1-year high of $4.72. The company has a market cap of $655.64 million, a price-to-earnings ratio of -8.05 and a beta of 1.92.

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.