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

Key Points

• Arbutus Biopharma's stock price recently crossed above its 200-day moving average, reaching a high of $4.39, with a last traded price of $4.18.
• Analysts have a consensus rating of "Moderate Buy" with an average target price of $5.00, although there are mixed ratings among different analysts.
• The company beat earnings estimates in its last quarterly report, posting $0.01 earnings per share against expectations of a loss, with revenue significantly above analyst estimates at $10.74 million.

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.52 and traded as high as $4.39. Arbutus Biopharma shares last traded at $4.18, with a volume of 750,014 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Monday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arbutus Biopharma in a research report on Wednesday. Finally, Wall Street Zen lowered shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5.00.

Arbutus Biopharma Stock Performance

The stock's fifty day moving average is $3.95 and its two-hundred day moving average is $3.52. The firm has a market capitalization of $801.31 million, a price-to-earnings ratio of -14.41 and a beta of 1.09.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. The business had revenue of $10.74 million during the quarter, compared to analyst estimates of $2.21 million. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. Sell-side analysts anticipate that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Arbutus Biopharma

A number of large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in Arbutus Biopharma by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,350 shares of the biopharmaceutical company's stock valued at $183,000 after purchasing an additional 3,540 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Arbutus Biopharma by 6.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 88,454 shares of the biopharmaceutical company's stock worth $273,000 after acquiring an additional 5,590 shares in the last quarter. Legal & General Group Plc grew its holdings in Arbutus Biopharma by 5.1% during the 2nd quarter. Legal & General Group Plc now owns 124,486 shares of the biopharmaceutical company's stock worth $385,000 after acquiring an additional 6,089 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Arbutus Biopharma by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,031 shares of the biopharmaceutical company's stock worth $265,000 after acquiring an additional 6,371 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in Arbutus Biopharma by 9.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 78,894 shares of the biopharmaceutical company's stock worth $275,000 after acquiring an additional 6,614 shares in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

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.

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