Arbutus Biopharma (NASDAQ:ABUS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.59 and traded as high as $4.93. Arbutus Biopharma shares last traded at $4.85, with a volume of 16,875,180 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ABUS shares. Weiss Ratings upgraded shares of Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Arbutus Biopharma has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Arbutus Biopharma Stock Down 0.6%

The company’s fifty day moving average is $4.82 and its two-hundred day moving average is $4.59. The stock has a market cap of $960.81 million, a price-to-earnings ratio of 6.14 and a beta of 0.62.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a return on equity of 90.98% and a net margin of 84.22%.The firm had revenue of $1.01 million for the quarter, compared to analyst estimates of $0.70 million.

Arbutus Biopharma announced that its board has initiated a stock buyback program on Friday, August 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Arbutus Biopharma

Institutional investors have recently bought and sold shares of the business. Stoneridge Investment Partners LLC acquired a new position in shares of Arbutus Biopharma during the 2nd quarter worth about $44,000. Principal Financial Group Inc. acquired a new stake in shares of Arbutus Biopharma during the 1st quarter worth about $49,000. Walleye Trading LLC acquired a new stake in shares of Arbutus Biopharma during the 2nd quarter worth about $67,000. E Fund Management Co. Ltd. acquired a new stake in shares of Arbutus Biopharma during the 2nd quarter worth about $69,000. Finally, Cura Wealth Advisors LLC purchased a new stake in Arbutus Biopharma during the second quarter worth approximately $72,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

About Arbutus Biopharma

Arbutus Biopharma Corporation (NASDAQ: ABUS) is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research is aimed at addressing multiple stages of the HBV lifecycle and developing therapies that may improve long-term viral suppression and support a functional cure.

The company’s pipeline has included AB-729, an RNA interference-based therapy designed to reduce hepatitis B surface antigen, and AB-836, an orally administered capsid assembly modulator intended to interfere with HBV replication.