Jupiter Topco LLC purchased a new stake in Arbutus Biopharma Corporation (NASDAQ:ABUS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 597,423 shares of the biopharmaceutical company’s stock, valued at approximately $2,867,000.
Several other institutional investors and hedge funds also recently made changes to their positions in ABUS. ADAR1 Capital Management LLC acquired a new stake in Arbutus Biopharma during the 2nd quarter valued at approximately $6,087,000. Whitefort Capital Management LP bought a new position in Arbutus Biopharma during the 2nd quarter worth approximately $75,812,453. Legal & General Group Plc acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $11,837,000. The Manufacturers Life Insurance Company acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $213,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Arbutus Biopharma in the 2nd quarter valued at $624,000. Institutional investors and hedge funds own 43.79% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on ABUS shares. Weiss Ratings raised shares of Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. Wall Street Zen cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.
Arbutus Biopharma Stock Up 0.2%
Arbutus Biopharma stock opened at $5.10 on Thursday. The company has a market capitalization of $1.01 billion, a PE ratio of 6.46 and a beta of 0.62. Arbutus Biopharma Corporation has a 12-month low of $3.50 and a 12-month high of $5.45. The firm’s fifty day moving average is $4.73 and its 200 day moving average is $4.51.
Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Arbutus Biopharma had a return on equity of 90.98% and a net margin of 84.22%.The company had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.70 million.
Arbutus Biopharma announced that its Board of Directors has approved a share repurchase plan on Friday, August 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Arbutus Biopharma Company Profile
Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.
In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.
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