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.
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
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.
- Get a free copy of the StockNews.com research report on Arbutus Biopharma (ABUS)
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