Arbutus Biopharma (NASDAQ:ABUS) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.41 and traded as high as $4.57. Arbutus Biopharma shares last traded at $4.45, with a volume of 3,493,740 shares traded.

Wall Street Analysts Forecast Growth

ABUS has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research note on Monday, April 20th. Wall Street Zen raised shares of Arbutus Biopharma from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Arbutus Biopharma has an average rating of “Hold” and a consensus price target of $5.00.

Arbutus Biopharma Price Performance

The firm’s fifty day moving average price is $4.38 and its 200-day moving average price is $4.41. The company has a market capitalization of $871.15 million, a price-to-earnings ratio of 5.31 and a beta of 0.63.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share for the quarter. Arbutus Biopharma had a return on equity of 129.32% and a net margin of 83.95%.The company had revenue of $179.13 million for the quarter. On average, research analysts predict that Arbutus Biopharma Corporation will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ABUS. Avidity Partners Management LP acquired a new stake in Arbutus Biopharma during the 1st quarter worth approximately $562,000. Front Row Advisors LLC lifted its holdings in shares of Arbutus Biopharma by 952.4% during the first quarter. Front Row Advisors LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $497,000 after purchasing an additional 100,000 shares during the period. Rubric Capital Management LP lifted its holdings in shares of Arbutus Biopharma by 320.6% during the first quarter. Rubric Capital Management LP now owns 6,626,389 shares of the biopharmaceutical company’s stock worth $29,819,000 after purchasing an additional 5,051,013 shares during the period. Inceptionr LLC grew its stake in shares of Arbutus Biopharma by 14.6% in the first quarter. Inceptionr LLC now owns 32,580 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 4,162 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Arbutus Biopharma in the first quarter valued at $49,000. Institutional investors own 43.79% of the company’s stock.

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.