Arbutus Biopharma (NASDAQ:ABUS) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Arbutus Biopharma shares rose 3.2% and crossed above their 200-day moving average, trading as high as $4.48 and last changing hands at $4.47.
• Analyst sentiment is mixed: Weiss Ratings reiterated a sell (d-) rating, while Wall Street Zen upgraded the stock to buy. Overall, MarketBeat shows an average rating of Hold with a $5.00 target price.
• The company has a $883 million market cap and recently reported strong quarterly results, including $0.87 EPS and $179.13 million in revenue. However, analysts still expect -0.16 EPS for the current fiscal year.

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.42 and traded as high as $4.48. Arbutus Biopharma shares last traded at $4.47, with a volume of 1,474,918 shares traded.

Wall Street Analyst Weigh In

ABUS has been the subject of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Arbutus Biopharma in a report on Friday, July 17th. Wall Street Zen upgraded shares of Arbutus Biopharma from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $5.00.

Arbutus Biopharma Stock Up 3.2%

The company's fifty day moving average is $4.52 and its two-hundred day moving average is $4.42. The stock has a market cap of $883.00 million, a price-to-earnings ratio of 5.39 and a beta of 0.62.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 EPS for the quarter. The company had revenue of $179.13 million during the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. Sell-side analysts predict that Arbutus Biopharma Corporation will post -0.16 EPS for the current fiscal year.

Institutional Trading of Arbutus Biopharma

Institutional investors have recently bought and sold shares of the business. Cibc World Markets Corp acquired a new stake in Arbutus Biopharma during the fourth quarter worth approximately $48,000. Voleon Capital Management LP acquired a new position in shares of Arbutus Biopharma in the 3rd quarter valued at $47,000. Principal Financial Group Inc. purchased a new position in shares of Arbutus Biopharma in the 1st quarter valued at $49,000. Amundi purchased a new position in shares of Arbutus Biopharma in the 4th quarter valued at $57,000. Finally, Oxford Asset Management LLP acquired a new stake in Arbutus Biopharma during the 2nd quarter worth $38,000. 43.79% of the stock is 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.

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