Arbutus Biopharma (NASDAQ:ABUS) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.52 and traded as high as $4.39. Arbutus Biopharma shares last traded at $4.18, with a volume of 750,014 shares.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABUS. Weiss Ratings reissued a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Wednesday. Wall Street Zen downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Arbutus Biopharma Trading Down 2.6%

The stock has a market capitalization of $801.31 million, a P/E ratio of -14.41 and a beta of 1.09. The company’s 50-day moving average is $3.95 and its two-hundred day moving average is $3.52.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $10.74 million for the quarter, compared to the consensus estimate of $2.21 million. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. Sell-side analysts expect that Arbutus Biopharma Corporation will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in Arbutus Biopharma by 290.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,075,948 shares of the biopharmaceutical company’s stock valued at $7,245,000 after buying an additional 1,544,070 shares during the period. Two Seas Capital LP increased its stake in Arbutus Biopharma by 8.3% during the 1st quarter. Two Seas Capital LP now owns 9,465,956 shares of the biopharmaceutical company’s stock valued at $33,036,000 after buying an additional 725,000 shares during the period. Invesco Ltd. increased its stake in Arbutus Biopharma by 99.7% during the 1st quarter. Invesco Ltd. now owns 139,462 shares of the biopharmaceutical company’s stock valued at $487,000 after buying an additional 69,631 shares during the period. Woodline Partners LP increased its stake in Arbutus Biopharma by 173.3% during the 1st quarter. Woodline Partners LP now owns 2,655,738 shares of the biopharmaceutical company’s stock valued at $9,269,000 after buying an additional 1,684,110 shares during the period. Finally, Aberdeen Group plc acquired a new position in Arbutus Biopharma during the 1st quarter valued at about $1,631,000. Institutional investors and hedge funds own 43.79% of the company’s stock.

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.