Arbutus Biopharma (NASDAQ:ABUS) Shares Pass Above 200-Day Moving Average – Here’s Why

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.41 and traded as high as $4.64. Arbutus Biopharma shares last traded at $4.64, with a volume of 2,326,762 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Arbutus Biopharma has an average rating of “Hold” and a consensus price target of $5.00.

Arbutus Biopharma Stock Up 6.7%

The firm has a market cap of $916.58 million, a P/E ratio of 5.59 and a beta of 0.62. The company’s 50 day simple moving average is $4.37 and its 200-day simple moving average is $4.41.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $179.13 million during the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. Equities research analysts predict that Arbutus Biopharma Corporation will post -0.16 EPS for the current year.

Institutional Trading of Arbutus Biopharma

Institutional investors have recently added to or reduced their stakes in the company. Cibc World Markets Corp bought a new stake in Arbutus Biopharma in the fourth quarter worth about $48,000. Voleon Capital Management LP bought a new stake in Arbutus Biopharma in the third quarter worth about $47,000. Principal Financial Group Inc. bought a new stake in Arbutus Biopharma in the first quarter worth about $49,000. Amundi bought a new stake in Arbutus Biopharma in the fourth quarter worth about $57,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Arbutus Biopharma during the second quarter worth approximately $38,000. Institutional investors 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.