Arbutus Biopharma (NASDAQ:ABUS) Stock Crosses Above Two Hundred Day Moving Average of $2.08

Arbutus Biopharma Co. (NASDAQ:ABUSGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.08 and traded as high as $2.47. Arbutus Biopharma shares last traded at $2.47, with a volume of 708,838 shares.

Arbutus Biopharma Trading Up 2.0 %

The firm’s fifty day moving average is $2.33 and its 200 day moving average is $2.08. The stock has a market cap of $425.96 million, a P/E ratio of -5.52 and a beta of 2.04.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $4.66 million during the quarter, compared to the consensus estimate of $3.78 million. Arbutus Biopharma had a negative return on equity of 56.45% and a negative net margin of 339.32%. Research analysts forecast that Arbutus Biopharma Co. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Several large investors have recently bought and sold shares of ABUS. Moneta Group Investment Advisors LLC raised its position in shares of Arbutus Biopharma by 114,139.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,952,790 shares of the biopharmaceutical company’s stock valued at $34,840,000 after buying an additional 14,939,701 shares during the last quarter. BlackRock Inc. increased its position in shares of Arbutus Biopharma by 17.8% during the second quarter. BlackRock Inc. now owns 9,969,527 shares of the biopharmaceutical company’s stock valued at $22,930,000 after purchasing an additional 1,505,441 shares during the period. Whitefort Capital Management LP increased its position in shares of Arbutus Biopharma by 7.9% during the second quarter. Whitefort Capital Management LP now owns 8,093,921 shares of the biopharmaceutical company’s stock valued at $18,616,000 after purchasing an additional 593,895 shares during the period. Vanguard Group Inc. raised its stake in shares of Arbutus Biopharma by 2.2% in the third quarter. Vanguard Group Inc. now owns 5,948,022 shares of the biopharmaceutical company’s stock valued at $12,074,000 after purchasing an additional 128,668 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Arbutus Biopharma by 106.3% in the second quarter. Millennium Management LLC now owns 4,159,064 shares of the biopharmaceutical company’s stock worth $11,271,000 after purchasing an additional 2,142,740 shares during the period. 39.52% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

(Get Free Report)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.

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