Arbutus Biopharma (NASDAQ:ABUS) Shares Pass Above 200-Day Moving Average – Here’s Why

Arbutus Biopharma Corporation (NASDAQ:ABUS)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.41 and traded as high as $4.64. Arbutus Biopharma shares last traded at $4.64, with a volume of 2,326,762 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have 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 reiterated a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Arbutus Biopharma Stock Performance

The stock has a market capitalization of $916.58 million, a PE ratio of 5.59 and a beta of 0.62. The business has a 50 day moving average of $4.37 and a two-hundred day moving average of $4.41.

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

Institutional Investors Weigh In On Arbutus Biopharma

A number of hedge funds have recently made changes to their positions in ABUS. Oxford Asset Management LLP purchased a new stake in shares of Arbutus Biopharma during the 2nd quarter worth $38,000. Voleon Capital Management LP purchased a new position in Arbutus Biopharma in the third quarter worth $47,000. Cibc World Markets Corp purchased a new position in Arbutus Biopharma in the fourth quarter worth $48,000. Principal Financial Group Inc. purchased a new position in Arbutus Biopharma in the first quarter worth $49,000. Finally, Daiwa Securities Group Inc. grew its holdings 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 last quarter. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

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.