The trading price of Arbutus Biopharma Corporation (NASDAQ:ABUS) closed higher on Tuesday, June 21, closing at $2.72, 1.49% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $2.68 and $2.86. In examining the 52-week price action we see that the stock hit a 52-week high of $6.50 and a 52-week low of $1.93. Over the past month, the stock has gained 16.24% in value.
Arbutus Biopharma Corporation, whose market valuation is $387.90 million at the time of this writing, is expected to release its quarterly earnings report Nov 01, 2021 – Nov 05, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.13 per share this quarter, however they have predicted annual earnings per share of -$0.52 for 2022 and -$0.62 for 2023. It means analysts are expecting annual earnings per share growth of 37.30% this year and -19.20% next year.
Analysts have forecast the company to bring in revenue of $6.77 million for the current quarter, with the likely lows of $3.21 million and highs of $10.3 million. The average estimate suggests sales will likely up by 190.70% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $32.07 million. The company’s revenue is forecast to grow by 191.90% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Arbutus Biopharma Corporation No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ABUS has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that ABUS’s price is currently 8.76% off the SMA20 and 9.29% off the SMA50. The RSI metric on the 14-day chart is currently showing 58.44, and weekly volatility stands at 7.59%. When measured over the past 30 days, the indicator reaches 7.44%. Arbutus Biopharma Corporation (NASDAQ:ABUS)’s beta value is currently sitting at 2.37, while the Average True Range indicator is currently displaying 0.19. With analysts defining $4.00-$10.00 as the low and high price targets, we arrive at a consensus price target of $6.70 for the trailing 12-month period. The current price is about -47.06% off the estimated low and -267.65% off the forecast high, based on this estimate. Investors will be thrilled if ABUS’s share price rises to $6.00, which is the median consensus price. At that level, ABUS’s share price would be -120.59% below current price.
To see how Arbutus Biopharma Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: ABUS stock’s performance was 1.49% in the latest trading, and -13.65% in the past year, while Infinity Pharmaceuticals Inc. (INFI) has traded -4.40% on the day and positioned -79.06% lower than it was a year ago. Also in last trading session, the S&P 500 Index has surged 2.45%, while the Dow Jones Industrial also saw a positive session, up 2.15% on the day.
An evaluation of the daily trading volume of Arbutus Biopharma Corporation (NASDAQ:ABUS) indicates that the 3-month average is 1.28 million.
Currently, records show that 148.43 million of the company’s shares remain outstanding. The insiders hold 27.11% of outstanding shares, whereas institutions hold 29.80%. However, since the stock’s price has seen -30.08% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.