Arbutus Biopharma (NASDAQ:ABUS) Share Price Passes Above 200-Day Moving Average of $2.57

Shares of Arbutus Biopharma Co. (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 $2.57 and traded as high as $3.39. Arbutus Biopharma shares last traded at $3.32, with a volume of 1,571,351 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on ABUS shares. HC Wainwright reduced their target price on shares of Arbutus Biopharma from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, March 1st. Chardan Capital reaffirmed a "buy" rating and set a $4.00 price target on shares of Arbutus Biopharma in a research report on Friday, May 3rd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $4.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, April 4th.

Arbutus Biopharma Price Performance

The company has a market cap of $634.10 million, a PE ratio of -7.57 and a beta of 2.05. The company's 50 day simple moving average is $2.88 and its two-hundred day simple moving average is $2.57.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.10). The firm had revenue of $1.53 million during the quarter, compared to analysts' expectations of $2.16 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. Sell-side analysts expect that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Arbutus Biopharma by 15.3% during the 4th quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company's stock valued at $115,000 after acquiring an additional 6,117 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Arbutus Biopharma by 22.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 6,649 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company's stock valued at $348,000 after purchasing an additional 7,500 shares during the period. Premier Path Wealth Partners LLC grew its holdings in shares of Arbutus Biopharma by 37.4% in the first quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company's stock valued at $79,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Verus Capital Partners LLC increased its stake in Arbutus Biopharma by 30.5% during the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company's stock worth $108,000 after buying an additional 9,800 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds.

About Arbutus Biopharma

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.