Arbutus Biopharma (NASDAQ:ABUS) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.41 and traded as high as $4.89. Arbutus Biopharma shares last traded at $4.73, with a volume of 2,987,210 shares trading hands.

Analysts Set New Price Targets

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

Arbutus Biopharma Trading Down 1.5%

The firm’s fifty day moving average price is $4.38 and its 200 day moving average price is $4.41. The stock has a market capitalization of $934.36 million, a price-to-earnings ratio of 5.70 and a beta of 0.62.

Arbutus Biopharma (NASDAQ:ABUS) last posted its earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share for the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. The firm had revenue of $179.13 million during the quarter. On average, analysts forecast that Arbutus Biopharma Corporation will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

A number of institutional investors have recently modified their holdings of the company. Oxford Asset Management LLP acquired a new stake in shares of Arbutus Biopharma in the second quarter valued at $38,000. Voleon Capital Management LP acquired a new position in Arbutus Biopharma during the 3rd quarter worth about $47,000. Cibc World Markets Corp purchased a new position in Arbutus Biopharma during the 4th quarter valued at about $48,000. Principal Financial Group Inc. purchased a new position in Arbutus Biopharma during the 1st quarter valued at about $49,000. Finally, Daiwa Securities Group Inc. grew its position in Arbutus Biopharma by 3,911.1% in 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 in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

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.