Saba Capital Management L.P. Acquires 211,566 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Saba Capital Management L.P. increased its holdings in shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.47% of Arbutus Biopharma worth $2,904,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABUS. Vanguard Group Inc. raised its position in shares of Arbutus Biopharma by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,980,864 shares of the biopharmaceutical company's stock valued at $29,367,000 after acquiring an additional 62,282 shares during the period. Two Seas Capital LP raised its holdings in Arbutus Biopharma by 4.2% in the fourth quarter. Two Seas Capital LP now owns 8,740,956 shares of the biopharmaceutical company's stock worth $28,583,000 after purchasing an additional 353,568 shares during the period. Geode Capital Management LLC raised its holdings in Arbutus Biopharma by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,482,136 shares of the biopharmaceutical company's stock worth $11,390,000 after purchasing an additional 33,536 shares during the period. BlackBarn Capital Partners LP boosted its position in shares of Arbutus Biopharma by 13.1% during the fourth quarter. BlackBarn Capital Partners LP now owns 2,341,871 shares of the biopharmaceutical company's stock worth $7,658,000 after purchasing an additional 270,971 shares in the last quarter. Finally, Rangeley Capital LLC acquired a new position in shares of Arbutus Biopharma in the 4th quarter valued at $4,771,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABUS shares. Wall Street Zen upgraded Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. Chardan Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Arbutus Biopharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.50.

Arbutus Biopharma Stock Up 1.4%

ABUS traded up $0.05 during trading on Thursday, hitting $3.22. The company had a trading volume of 380,533 shares, compared to its average volume of 1,000,913. The company has a market capitalization of $615.76 million, a PE ratio of -7.48 and a beta of 1.50. Arbutus Biopharma Co. has a one year low of $2.71 and a one year high of $4.73. The firm's 50-day moving average price is $3.27 and its 200 day moving average price is $3.36.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.54 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. Sell-side analysts forecast that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

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.