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

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised Arbutus Biopharma from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.00.

Arbutus Biopharma Stock Performance

The firm’s 50-day simple moving average is $4.53 and its 200-day simple moving average is $4.42. The company has a market capitalization of $865.23 million, a price-to-earnings ratio of 5.28 and a beta of 0.62.

Arbutus Biopharma (NASDAQ:ABUS) last announced 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 business had revenue of $179.13 million during the quarter. Equities research analysts forecast that Arbutus Biopharma Corporation will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

Several large investors have recently added to or reduced their stakes in the company. Oxford Asset Management LLP acquired a new stake in shares of Arbutus Biopharma during the 2nd quarter worth approximately $38,000. Voleon Capital Management LP acquired a new position in shares of Arbutus Biopharma in the third quarter valued at $47,000. Cibc World Markets Corp acquired a new position in shares of Arbutus Biopharma in the fourth quarter valued at $48,000. Principal Financial Group Inc. bought a new position in Arbutus Biopharma in the first quarter worth $49,000. Finally, Daiwa Securities Group Inc. lifted its position in Arbutus Biopharma by 3,911.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 15,449 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

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.