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

Arbutus Biopharma Co. (NASDAQ:ABUS) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 6,540,000 shares, a decrease 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 short-interest ratio is currently 5.9 days.

Arbutus Biopharma Price Performance

NASDAQ:ABUS opened at $3.64 on Monday. The firm has a 50-day moving average of $3.98 and a two-hundred day moving average of $3.62. The stock has a market cap of $689.74 million, a P/E ratio of -8.46 and a beta of 1.92. Arbutus Biopharma has a 1-year low of $1.75 and a 1-year high of $4.72.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABUS. Rubric Capital Management LP purchased a new position in Arbutus Biopharma in the 2nd quarter valued at about $5,195,000. State Street Corp boosted its position in Arbutus Biopharma by 50.2% in the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock valued at $16,967,000 after buying an additional 1,472,652 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 831,663 shares during the last quarter. Barclays PLC boosted its position in Arbutus Biopharma by 466.3% in the 3rd quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying 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 Arbutus Biopharma in the 3rd quarter valued at about $754,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

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.