Arbutus Biopharma Co. (NASDAQ:ABUS) Short Interest Down 16.0% in October

Arbutus Biopharma Co. (NASDAQ:ABUS) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 6,540,000 shares, a decline of 16.0% from the October 15th total of 7,790,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is presently 5.9 days.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ABUS shares. StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Jefferies Financial Group raised their price objective on Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. JMP Securities lifted their price objective on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Chardan Capital increased their price objective on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.38.

Institutional Trading of Arbutus Biopharma

Several institutional investors have recently bought and sold shares of ABUS. Rubric Capital Management LP acquired a new stake in shares of Arbutus Biopharma in the second quarter valued at about $5,195,000. State Street Corp increased its position in shares of Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after purchasing an additional 1,472,652 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Arbutus Biopharma by 218.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,246 shares of the biopharmaceutical company’s stock valued at $4,667,000 after purchasing an additional 831,663 shares in the last quarter. Barclays PLC boosted its stake in Arbutus Biopharma by 466.3% during the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock worth $1,047,000 after purchasing an additional 223,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Arbutus Biopharma in the third quarter worth about $754,000. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Stock Up 0.3 %

NASDAQ:ABUS opened at $3.64 on Friday. Arbutus Biopharma has a 52 week low of $1.75 and a 52 week high of $4.72. The stock’s 50-day moving average price is $4.00 and its 200-day moving average price is $3.61. The stock has a market capitalization of $689.74 million, a PE ratio of -8.21 and a beta of 1.92.

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.