Arbutus Biopharma Corp (NASDAQ:ABUS) shares, rose in value, with the stock price up by 2.74% to the previous day’s close as strong demand from buyers drove the stock to $3.00.
Actively observing the price movement in the last trading, the stock closed the session at $2.92. The value of beta (5-year monthly) was 2.04. Referring to stock’s 52-week performance, its high was $3.25, and the low was $1.69. On the whole, ABUS has fluctuated by 12.36% over the past month.
With the market capitalization of Arbutus Biopharma Corp currently standing at about $538.47 million, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.11, which is expected to increase to -$0.09 for fiscal year -$0.45 and then to about -$0.53 by fiscal year 2025. Data indicates that the EPS growth is expected to be -2.30% in 2025, while the next year’s EPS growth is forecast to be -17.80%.
Analysts have estimated the company’s revenue for the quarter at $2.15 million, with a low estimate of $2.1 million and a high estimate of $2.21 million. According to the average forecast, sales growth in current quarter could jump down -67.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $7.76 million, representing a decrease of -57.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ABUS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ABUS currently trading nearly 14.70% and 13.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.47, while the 7-day volatility ratio is showing 11.41% which for the 30-day chart, stands at 5.31%. Furthermore, Arbutus Biopharma Corp (ABUS)’s beta value is 2.07, and its average true range (ATR) is 0.15.
A comparison of Arbutus Biopharma Corp (ABUS) with its peers suggests the former has fared considerably weaker in the market. ABUS showed an intraday change of 2.74% in last session, and over the past year, it shrunk by -1.96%%.
Data on historical trading for Arbutus Biopharma Corp (NASDAQ:ABUS) indicates that the trading volumes over the past 10 days have averaged 1.71 million and over the past 3 months, they’ve averaged 1.13 million. According to company’s latest data on outstanding shares, there are 169.87 million shares outstanding.
Nearly 25.34% of Arbutus Biopharma Corp’s shares belong to company insiders and institutional investors own 43.84% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.13 million shares as on Mar 15, 2024, resulting in a short ratio of 4.77. According to the data, the short interest in Arbutus Biopharma Corp (ABUS) stood at 2.30% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 3.69 million. The stock has risen by 20.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ABUS stock heading into the next quarter.
