Arbutus Biopharma (NASDAQ:ABUS) Shares Gap Down – Should You Sell?

Arbutus Biopharma Co. (NASDAQ:ABUS)’s share price gapped down before the market opened on Monday . The stock had previously closed at $3.56, but opened at $3.45. Arbutus Biopharma shares last traded at $3.48, with a volume of 15,697 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABUS shares. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price (up from $4.50) on shares of Arbutus Biopharma in a research report on Wednesday, November 20th. Jefferies Financial Group upped their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. JMP Securities raised 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Stock Down 2.5 %

The company has a 50 day moving average of $3.74 and a 200-day moving average of $3.70. The stock has a market capitalization of $655.64 million, a P/E ratio of -8.05 and a beta of 1.84.

Institutional Trading of Arbutus Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in ABUS. nVerses Capital LLC bought a new stake in Arbutus Biopharma during the second quarter worth approximately $34,000. Helen Stephens Group LLC acquired a new position in Arbutus Biopharma during the third quarter worth about $50,000. XTX Topco Ltd bought a new stake in Arbutus Biopharma in the second quarter worth about $53,000. Premier Path Wealth Partners LLC lifted its holdings in Arbutus Biopharma by 18.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 5,500 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Arbutus Biopharma by 63.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,309 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 14,138 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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.