Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.43 and traded as high as $4.43. Arbutus Biopharma shares last traded at $4.25, with a volume of 4,998,921 shares changing hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arbutus Biopharma in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.00.
Read Our Latest Analysis on ABUS
Arbutus Biopharma Price Performance
The firm's 50-day moving average price is $4.43 and its 200 day moving average price is $4.43. The firm has a market capitalization of $837.00 million, a price-to-earnings ratio of -25.00 and a beta of 0.74.
Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its earnings results on Friday, March 20th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.05. The firm had revenue of $1.05 million for the quarter, compared to analyst estimates of $0.83 million. Arbutus Biopharma had a negative return on equity of 42.39% and a negative net margin of 237.88%. On average, analysts predict that Arbutus Biopharma Corporation will post -0.16 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Arbutus Biopharma
Several hedge funds and other institutional investors have recently modified their holdings of ABUS. Western Standard LLC purchased a new stake in Arbutus Biopharma during the 3rd quarter worth $2,306,000. New York State Common Retirement Fund increased its holdings in Arbutus Biopharma by 61.3% in the 3rd quarter. New York State Common Retirement Fund now owns 35,268 shares of the biopharmaceutical company's stock valued at $160,000 after purchasing an additional 13,400 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Arbutus Biopharma in the third quarter valued at about $300,000. Campbell & CO Investment Adviser LLC purchased a new position in Arbutus Biopharma in the third quarter valued at about $333,000. Finally, Wealth Management Associates Inc. lifted its stake in shares of Arbutus Biopharma by 7.5% during the third quarter. Wealth Management Associates Inc. now owns 112,820 shares of the biopharmaceutical company's stock worth $512,000 after purchasing an additional 7,900 shares in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.
Arbutus Biopharma Company Profile
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Get Free Report)
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.
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