What I’m Watching When Arbutus Biopharma Corporation (ABUS) Reports Earnings

It has been reported that multiple insider activity took place at Arbutus Biopharma Corporation (ABUS). Chief Scientific Officer Sofia Michael J. sold 4,250 shares for $1,670,565 in transaction occurred on 2018/08/13. After making this transaction, Chief Scientific Officer owns a direct stake of -75 shares, worth $3,975,945, as per the last closing price. On 2018/08/13 Sofia Michael J., Chief Scientific Officer at ABUS, dumped 4,250 shares at an average price of $9.51 per share. The selling total is valued at $3,975,945.

Chief Scientific Officer, Sofia Michael J. had divested 10,000 shares for $1,674,815 through a trade on 2018/07/11. Following this activity, the insider holds -76 shares worth $3,986,060 as of recent close.

Primecap Odyssey Aggressive Growth Fund revealed as top hedge fund owner in Arbutus Biopharma Corporation (ABUS) with a stake of over 4.04M ABUS shares as of March 30, with a market value of approx. $14.47M as of today. The second largest holder, iShares Russell 2000 ETF, with 741870 shares which equates to $2.66M worth of the stock. At third is iShares NASDAQ Biotechnology ETF, which stood pat with 586600 shares, a 1.54% position in Arbutus Biopharma Corporation, worth $2.1M. The insider holding in stood at 3% while institutions hold 44.6%.

Arbutus Biopharma Corporation (NASDAQ:ABUS) rose 0.42% in recent trade and currently has a stock-market value of $136.42M. The shares finished at $2.38, after trading as low as $2.3 earlier in the session. It hit an intraday high Wednesday at $2.49. Trading activity significantly weakened as the volume at ready counter decreased to 108,857 shares versus 499,285 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 261,251 shares. The stock is now 9.17% above against its bear-market low of $2.18 on May 13, 2019. It has retreated -429.41% since it’s 52-week high of $12.6 reached in August. Now the market price is down -64.21% on the year and down -37.86% YTD.

ABUS stock’s 50 day simple moving average (SMA 50) price is $3.38 and its 200-day simple moving average (SMA 200) price is $5.36. The company’s stock currently has a total float of 32.33M shares. Its weekly volatility is hovering around 7.21% and felt 9.46% volatility in price over a month. On the upside, the share price will test short term resistance at around $2.48. On a downside, the stock is likely to find some support, which begins at $2.29. The failure to get near-term support could push it to $2.2.

It had seen a positive analyst call from B. Riley FBR, which upgraded the stock from Neutral to Buy on October 16. Analysts at Wedbush, shed their negative views on October 15 by lifting it fromUnderperform to Neutral. Brokerage firm Chardan Capital Markets, looks cautious as they stick to prior recommendation of Buy, in a call on October 12. However, they did change the target price from $12 to $6.50. B. Riley FBR, Inc. analysts came out with bearish views on July 06 when the call was made. They think the stock is now Neutral compared to to their prior call for Buy.

Also, it is trading at rather expensive levels at just over 2.53x price/book and 26.23x price/sales. ABUS’s ROE is -87.5%, which is also considerably worse than the industry’s ROE of 15.46%. It’s also very liquid in the near term, with a current ratio of 12.7. The stock has a debt/capital of 0.

Shares of ABUS have dropped -9.9% since the company’s most recent earnings report. Over the past 12 fiscal quarters, Arbutus Biopharma Corporation (NASDAQ:ABUS) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 4 quarters (33%), whereas at 2 occasion EPS met analyst expectations. Revenue for the recent quarter stood at $4.75 million, up 56% on last year and above the $4.36 million predicted by analysts.