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

Arbutus Biopharma Corporation (NASDAQ:ABUS) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.28 and traded as high as $4.34. Arbutus Biopharma shares last traded at $4.17, with a volume of 3,241,163 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on ABUS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Wednesday, January 21st. Chardan Capital reissued a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Friday, November 14th. Finally, Wall Street Zen lowered Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Arbutus Biopharma currently has an average rating of “Hold” and an average price target of $5.00.

Arbutus Biopharma Stock Up 4.8%

The business’s fifty day moving average price is $4.41 and its 200 day moving average price is $4.28. The firm has a market capitalization of $801.97 million, a PE ratio of -18.13 and a beta of 0.71.

Institutional Investors Weigh In On Arbutus Biopharma

Several hedge funds have recently made changes to their positions in ABUS. Oxford Asset Management LLP acquired a new position in Arbutus Biopharma in the second quarter valued at $38,000. Voleon Capital Management LP acquired a new position in shares of Arbutus Biopharma during the 3rd quarter valued at about $47,000. Cibc World Markets Corp purchased a new position in shares of Arbutus Biopharma during the 4th quarter worth about $48,000. Daiwa Securities Group Inc. boosted its position in shares of Arbutus Biopharma by 3,911.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 15,449 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Arbutus Biopharma by 71.5% in the second quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 7,610 shares during the last quarter. Institutional investors and hedge funds own 43.79% of the company’s stock.

About Arbutus Biopharma

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.