Arbutus Biopharma (NASDAQ:ABUS) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Arbutus Biopharma Corporation (NASDAQ:ABUS - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.56 and traded as high as $4.65. Arbutus Biopharma shares last traded at $4.51, with a volume of 1,636,435 shares trading hands.Get Arbutus Biopharma alerts:Analyst Ratings Changes3 Stocks to Buy For the COVID Resurgence Several analysts recently issued reports on ABUS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arbutus Biopharma in a report on Wednesday, October 8th. Wall Street Zen cut shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $5.00.View Our Latest Stock Report on Arbutus BiopharmaArbutus Biopharma Price PerformanceThe stock has a market cap of $864.57 million, a price-to-earnings ratio of -15.55 and a beta of 1.09. The stock's 50 day simple moving average is $4.07 and its two-hundred day simple moving average is $3.56. Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. The company had revenue of $10.74 million during the quarter, compared to analysts' expectations of $2.21 million. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. As a group, analysts predict that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current year. Institutional Investors Weigh In On Arbutus BiopharmaInstitutional investors have recently added to or reduced their stakes in the stock. Oxford Asset Management LLP acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $38,000. Daiwa Securities Group Inc. grew its position in Arbutus Biopharma by 3,911.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 15,449 shares during the period. Prudential Financial Inc. raised its stake in Arbutus Biopharma by 71.5% during the second quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 7,610 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Arbutus Biopharma during the second quarter valued at $61,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Arbutus Biopharma by 220.1% during the second quarter. Tower Research Capital LLC TRC now owns 20,760 shares of the biopharmaceutical company's stock valued at $64,000 after acquiring an additional 14,275 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds. About Arbutus Biopharma (Get Free Report)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.Further ReadingFive stocks we like better than Arbutus BiopharmaBest Aerospace Stocks Investing Salesforce’s Long-Awaited Inflection is Here: Rally On!How to Calculate Retirement Income: MarketBeat’s CalculatorRocket Lab USA Receives Wall Street Validation: Time to Buy?Top Biotech Stocks: Exploring Innovation OpportunitiesArcher Buys Rival's Patent Treasure Trove in Strategic MoveThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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