Arbutus Biopharma Co. (NASDAQ:ABUS) Shares Bought by Saba Capital Management L.P.

Saba Capital Management L.P. increased its holdings in Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 887,993 shares of the biopharmaceutical company's stock after buying an additional 211,566 shares during the period. Saba Capital Management L.P. owned about 0.47% of Arbutus Biopharma worth $2,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Arbutus Biopharma by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 89,586 shares of the biopharmaceutical company's stock valued at $345,000 after buying an additional 8,859 shares during the last quarter. Ballentine Partners LLC purchased a new position in Arbutus Biopharma in the fourth quarter valued at $102,000. Clear Harbor Asset Management LLC raised its holdings in Arbutus Biopharma by 6.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company's stock worth $261,000 after purchasing an additional 5,000 shares during the period. SG Americas Securities LLC boosted its position in Arbutus Biopharma by 30.7% during the fourth quarter. SG Americas Securities LLC now owns 69,119 shares of the biopharmaceutical company's stock worth $226,000 after purchasing an additional 16,250 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Arbutus Biopharma by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company's stock valued at $131,000 after purchasing an additional 3,870 shares during the period. Hedge funds and other institutional investors own 43.79% of the company's stock.

Arbutus Biopharma Stock Performance

Shares of NASDAQ:ABUS traded up $0.08 on Tuesday, hitting $3.21. 756,270 shares of the company's stock were exchanged, compared to its average volume of 1,002,942. Arbutus Biopharma Co. has a 1-year low of $2.71 and a 1-year high of $4.73. The company has a market capitalization of $614.80 million, a PE ratio of -7.46 and a beta of 1.50. The firm's 50-day moving average is $3.27 and its 200 day moving average is $3.36.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $1.76 million for the quarter, compared to analysts' expectations of $2.54 million. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. On average, analysts anticipate that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABUS. HC Wainwright reiterated a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. StockNews.com raised shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Chardan Capital reissued a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.50.

Arbutus Biopharma Profile

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.