Arbutus Biopharma (NASDAQ:ABUS) Share Price Passes Above 200-Day Moving Average of $2.39

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABUS. HC Wainwright dropped their price objective on shares of Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 1st. JMP Securities restated a “market outperform” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research note on Thursday, April 4th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of Arbutus Biopharma in a research note on Friday.

Arbutus Biopharma Stock Up 1.1 %

The firm has a market capitalization of $486.42 million, a price-to-earnings ratio of -6.16 and a beta of 2.05. The company’s 50 day moving average is $2.74 and its 200 day moving average is $2.40.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Arbutus Biopharma had a negative return on equity of 61.98% and a negative net margin of 572.81%. 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 previous year, the company posted ($0.14) EPS. On average, analysts expect that Arbutus Biopharma Co. will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ABUS. Kades & Cheifetz LLC bought a new position in Arbutus Biopharma in the 3rd quarter valued at $41,000. China Universal Asset Management Co. Ltd. raised its position in Arbutus Biopharma by 351.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 15,104 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Arbutus Biopharma in the 1st quarter worth about $50,000. Premier Path Wealth Partners LLC bought a new stake in shares of Arbutus Biopharma during the fourth quarter valued at approximately $56,000. Finally, SG Americas Securities LLC bought a new position in shares of Arbutus Biopharma during the third quarter valued at approximately $81,000. 43.79% of the stock is owned by institutional investors.

About Arbutus Biopharma

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.