Company chares are trading at $3.78 a tad above the 50 day moving average which is $3.53 and marginally over the 200 day moving average of $3.06. The 50 day moving average was up by +6.984% and the 200 day average went up $0.72 or +23.480%. (NASDAQ:ABUS) shares saw light trading volume with 43K shares changing hands in the last trading session. Shares saw a steep decrease in trading volume of 85.87% under the normal average daily volume.
Investors are feeling more bearish on the company if you put credence in the motion in short interest. The firm experienced a rise in short interest from June 15, 2017 to May 31, 2017 of 33.06%. Short shares increased from 561,799 to 747,529 over that timeframe. Days to cover increased from 1.8 to 3.8 and the percentage of shorted shares is 0.01% as of May 31.
Here are a few other firms who have also updated their positions. As of the end of the quarter Creative Planning had acquired 50 shares growing its position 5.0%. The value of the company’s investment in Arbutus Biopharma Corporation increased from $3,000 to $4,000 increasing 33.3% since the last quarter. Bank Of Montreal /can/ grew its stake by buying 16,535 shares an increase of 1.9% in the quarter. Bank Of Montreal /can/ claims 874,254 shares with a value of $3,147,000. The value of the position overall is up by 12.9%.
As of quarter end Morgan Stanley had bought a total of 9,149 shares growing its holdings by 1,710.1%. The value of the investment in (ABUS) went from $1,000 to $31,000 a change of $30,000 quarter to quarter. As of the end of the quarter Tower Research Capital LLC (trc) had disposed of a total of 2,109 shares trimming its stake by 30.3%. The value of the investment in ABUS went from $17,000 to $16,000 a change of 5.9% quarter over quarter.
Equity analyst Chardan Capital downgraded the stock and lowered the price target on December 13 cutting the price target from $4.00 to $3.00 and altering the rating from “Buy” to “Neutral”. On December 13 the company was downgraded from “Buy” to “Neutral” with a current price target of $3.00 by analysts at Chardan Capital.
On November 30 the stock rating was upgraded to “Buy” from “Neutral” and a price target of $4.00 was set in an announcement from Chardan Capital. On October 14 the company was changed to a “Neutral” in a report from Chardan Capital up from the previous “Sell” rating.
On July 8, 2016 the stock rating was rated “Sell” by Chardan Capital a cut from the previous “Neutral” rating. June 16 investment analysts at Chardan Capital made no change to the price target of $3.30 and boost the company to Neutral from Sell.
The company is now up from yesterday’s close of $3.7. In the latest earnings report the EPS was $-7.19 and is estimated to be $-1.64 for the current year with 55,024,000 shares now outstanding. Analysts expect next quarter’s EPS to be $-0.44 with next year’s EPS projected to be $-1.39.
Arbutus Biopharma Corporation, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of chronic hepatitis B (HBV) infections in Canada and the United States. It also develops a pipeline of products based on RNA interference therapeutics (RNAi). Its lead candidate is ARB-1467, a multi-component RNAi therapeutic product that is designed for the elimination of HBV surface antigen expression in patients chronically infected with HBV. Its HBV product candidates also comprise ARB-1740, a RNAi HBV candidate that is in preclinical studies; small molecule cccDNA formation inhibitors for reducing the amount of cccDNA in the infected liver cell; HBV core protein assembly inhibitors; ARB-1598, a toll-like receptor; surface antigen secretion inhibitors; cccDNA epigenetic modifiers; stimulator of interferon genes agonists; and cyclophilin inhibitor drug candidates, including OCB-030 and other cyclophilin inhibitors. In addition, it develops TKM-PLK1, an oncology product platform that is in Phase I/II clinical trials for the treatment of gastrointestinal neuroendocrine tumors, adrenocortical carcinoma, and hepatocellular carcinoma; TKM-HTG, a multi-component RNAi therapeutic that targets a combination of genes expressed in the liver, which play a role in triglyceride metabolism; and TKM-ALDH, an aldehyde dehydrogenase to induce long term acute sensitivity to ethanol to treat severe alcohol use disorder. Further, its partnered programs consists of ALN-TTR02,whichis in Phase III clinical study, a therapeutic targeting transthyretin mediated amyloidosis; ALN-VSP for liver cancer; ALN-PCS02 for hypercholesterolemia; Marqibo for treating Philadelphia chromosome-negative acute lymphoblastic leukemia; and DCR-PH1 for primary hyperoxaluria type 1. The company was formerly known as Tekmira Pharmaceuticals Corporation and changed its name to Arbutus Biopharma Corporation in July 2015. Arbutus Biopharma Corporation is headquartered in Burnaby, Canada..