Arbutus Biopharma (NASDAQ:ABUS) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.42 and traded as high as $4.48. Arbutus Biopharma shares last traded at $4.47, with a volume of 1,474,918 shares.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Friday, July 17th. Wall Street Zen upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arbutus Biopharma currently has a consensus rating of “Hold” and an average target price of $5.00.

Arbutus Biopharma Trading Up 3.2%

The stock has a market cap of $883.00 million, a price-to-earnings ratio of 5.39 and a beta of 0.62. The stock’s 50 day moving average is $4.52 and its two-hundred day moving average is $4.42.

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

Hedge Funds Weigh In On Arbutus Biopharma

Institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV raised its stake in shares of Arbutus Biopharma by 9.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 38,959 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 3,280 shares during the last quarter. ProShare Advisors LLC grew its position in Arbutus Biopharma by 10.5% in the 4th quarter. ProShare Advisors LLC now owns 36,161 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 3,446 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Arbutus Biopharma by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,350 shares of the biopharmaceutical company’s stock valued at $183,000 after buying an additional 3,540 shares during the period. Inceptionr LLC increased its stake in Arbutus Biopharma by 14.6% in the 1st quarter. Inceptionr LLC now owns 32,580 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 4,162 shares during the period. Finally, Rafferty Asset Management LLC raised its position in Arbutus Biopharma by 6.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 88,454 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 5,590 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.