Arbutus Biopharma (NASDAQ:ABUS) Shares Cross Above 200-Day Moving Average of $2.39

Arbutus Biopharma Co. (NASDAQ:ABUS – Get Rating)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.39 and traded as high as $2.84. Arbutus Biopharma shares last traded at $2.65, with a volume of 579,178 shares changing hands.

Wall Street Analysts Forecast Growth

ABUS has been the topic of a number of recent analyst reports. HC Wainwright cut their price target on shares of Arbutus Biopharma from $7.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. StockNews.com initiated coverage on shares of Arbutus Biopharma in a report on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Arbutus Biopharma Price Performance

The company has a market cap of $397.37 million, a P/E ratio of -5.52 and a beta of 2.13. The stock’s 50-day moving average is $2.56 and its two-hundred day moving average is $2.39.

Arbutus Biopharma (NASDAQ:ABUS – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Arbutus Biopharma had a negative net margin of 191.34% and a negative return on equity of 43.44%. The business had revenue of $5.95 million for the quarter, compared to the consensus estimate of $11.12 million. On average, analysts predict that Arbutus Biopharma Co. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC raised its position in Arbutus Biopharma by 14.0% in the second quarter. Virtus ETF Advisers LLC now owns 42,675 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 5,227 shares during the period. JPMorgan Chase & Co. raised its position in Arbutus Biopharma by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 64,191 shares of the biopharmaceutical company’s stock worth $173,000 after acquiring an additional 5,265 shares during the period. American International Group Inc. raised its position in Arbutus Biopharma by 11.7% in the second quarter. American International Group Inc. now owns 50,544 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 5,312 shares during the period. Rafferty Asset Management LLC raised its position in Arbutus Biopharma by 12.1% in the second quarter. Rafferty Asset Management LLC now owns 67,736 shares of the biopharmaceutical company’s stock worth $184,000 after acquiring an additional 7,335 shares during the period. Finally, Alliancebernstein L.P. raised its position in Arbutus Biopharma by 31.4% in the third quarter. Alliancebernstein L.P. now owns 31,800 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 7,600 shares during the period. 31.03% of the stock is currently owned by institutional investors.

Arbutus Biopharma Company Profile

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Arbutus Biopharma Corp. is a biopharmaceutical company. It engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded in 2007 and is headquartered in Warminster, PA.