Arbutus Biopharma (NASDAQ:ABUS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Arbutus Biopharma Corporation (NASDAQ:ABUS) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.98 and traded as high as $4.80. Arbutus Biopharma shares last traded at $4.68, with a volume of 842,606 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on ABUS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Wednesday, October 8th. Chardan Capital reissued a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Friday, November 14th. Finally, Wall Street Zen cut Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.00.

Arbutus Biopharma Trading Up 0.1%

The stock has a market cap of $901.02 million, a price-to-earnings ratio of -20.37 and a beta of 0.66. The firm has a fifty day simple moving average of $4.51 and a 200-day simple moving average of $3.98.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Arbutus Biopharma had a negative return on equity of 50.26% and a negative net margin of 289.79%.The company had revenue of $0.53 million during the quarter, compared to analysts’ expectations of $1.31 million. On average, equities analysts predict that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. 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 bought a new position in Arbutus Biopharma in the third quarter valued at approximately $47,000. Daiwa Securities Group Inc. boosted its stake 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 valued at $49,000 after acquiring an additional 15,449 shares during the last quarter. Prudential Financial Inc. grew its holdings in Arbutus Biopharma by 71.5% during the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 7,610 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Arbutus Biopharma during the 2nd quarter valued at $61,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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.