Arbutus Biopharma (NASDAQ:ABUS) Share Price Crosses Above Two Hundred Day Moving Average of $2.39

Arbutus Biopharma Co. (NASDAQ:ABUS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.39 and traded as high as $2.73. Arbutus Biopharma shares last traded at $2.68, with a volume of 673,219 shares trading hands.

Analyst Ratings Changes

ABUS has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research note on Thursday, April 4th. Chardan Capital restated a “buy” rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research report on Friday. Finally, HC Wainwright decreased their price target on Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, March 1st.

Arbutus Biopharma Trading Up 1.1 %

The stock has a market capitalization of $486.42 million, a price-to-earnings ratio of -6.16 and a beta of 2.05. The business has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $2.40.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 61.98%. The business had revenue of $2.15 million for the quarter, compared to analyst estimates of $4.74 million. During the same quarter in the prior year, the business posted ($0.14) EPS. Research analysts predict that Arbutus Biopharma Co. will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Arbutus Biopharma by 15.3% in the 4th quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 6,117 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Arbutus Biopharma by 5.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock worth $348,000 after acquiring an additional 7,500 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of Arbutus Biopharma by 37.4% in the first quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 8,300 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Arbutus Biopharma by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 12,833 shares during the period. Finally, PFG Investments LLC acquired a new position in Arbutus Biopharma during the 1st quarter valued at $50,000. Institutional investors 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.