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

Shares of 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 $3.81 and traded as high as $4.44. Arbutus Biopharma shares last traded at $4.41, with a volume of 894,067 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABUS. Weiss Ratings restated a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Wednesday, October 8th. Wall Street Zen downgraded 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 price objective on shares of Arbutus Biopharma in a report on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.00.

Arbutus Biopharma Stock Performance

The firm has a 50-day moving average of $4.45 and a 200-day moving average of $3.81. The firm has a market capitalization of $848.15 million, a P/E ratio of -15.21 and a beta of 1.07.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Arbutus Biopharma had a negative return on equity of 59.28% and a negative net margin of 352.24%.The firm had revenue of $0.53 million during the quarter, compared to analyst estimates of $1.31 million. Equities analysts anticipate that Arbutus Biopharma Corporation will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP grew its stake in shares of Arbutus Biopharma by 173.3% in the first quarter. Woodline Partners LP now owns 2,655,738 shares of the biopharmaceutical company’s stock worth $9,269,000 after purchasing an additional 1,684,110 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Arbutus Biopharma by 290.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,075,948 shares of the biopharmaceutical company’s stock worth $7,245,000 after buying an additional 1,544,070 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Arbutus Biopharma by 63.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,575,941 shares of the biopharmaceutical company’s stock valued at $7,960,000 after buying an additional 1,000,000 shares during the period. Two Seas Capital LP raised its holdings in shares of Arbutus Biopharma by 10.3% during the second quarter. Two Seas Capital LP now owns 10,443,317 shares of the biopharmaceutical company’s stock valued at $32,270,000 after acquiring an additional 977,361 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Arbutus Biopharma by 161.4% during the second quarter. Bank of America Corp DE now owns 1,197,655 shares of the biopharmaceutical company’s stock valued at $3,701,000 after acquiring an additional 739,429 shares in the last quarter. 43.79% of the stock is owned by institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.