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

Arbutus Biopharma Corporation (NASDAQ:ABUS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.44 and traded as high as $4.60. Arbutus Biopharma shares last traded at $4.38, with a volume of 1,967,593 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

Arbutus Biopharma Price Performance

The firm’s 50 day moving average is $4.35 and its 200 day moving average is $4.44. The firm has a market cap of $856.20 million, a P/E ratio of -25.76 and a beta of 0.74.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Friday, March 20th. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.05. Arbutus Biopharma had a negative net margin of 237.88% and a negative return on equity of 42.39%. The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $0.83 million. As a group, analysts expect that Arbutus Biopharma Corporation will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds have recently bought and sold shares of the company. Oxford Asset Management LLP bought a new position in Arbutus Biopharma in the 2nd quarter worth about $38,000. Voleon Capital Management LP bought a new position in Arbutus Biopharma during the 3rd quarter valued at about $47,000. Cibc World Markets Corp bought a new position in Arbutus Biopharma during the 4th quarter valued at about $48,000. Daiwa Securities Group Inc. lifted its stake 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 acquiring an additional 15,449 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Arbutus Biopharma by 71.5% during the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 7,610 shares during the period. 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.