Arbutus Biopharma (NASDAQ:ABUS) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.16 and traded as high as $4.23. Arbutus Biopharma shares last traded at $4.06, with a volume of 1,139,145 shares trading hands.

Analysts Set New Price Targets

ABUS has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Wednesday. Wall Street Zen lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Friday, November 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Arbutus Biopharma Stock Performance

The firm has a market capitalization of $780.82 million, a P/E ratio of -17.65 and a beta of 0.70. The stock has a 50 day moving average of $4.51 and a 200-day moving average of $4.16.

Arbutus Biopharma (NASDAQ:ABUS) last posted its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Arbutus Biopharma had a negative net margin of 289.79% and a negative return on equity of 50.26%. The firm had revenue of $0.53 million during the quarter, compared to the consensus estimate of $1.31 million. As a group, sell-side analysts expect that Arbutus Biopharma Corporation will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Arbutus Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voleon Capital Management LP bought a new position in shares of Arbutus Biopharma in the third quarter worth $47,000. Oxford Asset Management LLP purchased a new stake in Arbutus Biopharma during the 2nd quarter worth about $38,000. Brooklyn Investment Group boosted its stake in Arbutus Biopharma by 3,485.6% in the 3rd quarter. Brooklyn Investment Group now owns 14,163 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 13,768 shares during the period. Daiwa Securities Group Inc. grew its holdings in Arbutus Biopharma by 3,911.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 15,449 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in Arbutus Biopharma during the 3rd quarter valued at about $73,000. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.