Arbutus Biopharma (NASDAQ:ABUS) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Arbutus Biopharma missed earnings expectations: The company reported a quarterly loss of $0.03 per share, versus analysts’ expected loss of $0.02. Revenue reached $1.01 million, exceeding the $0.70 million consensus estimate.
• Shares declined 3.0% to $4.53 following the results. The stock has traded between $3.31 and $5.38 over the past year, with a consensus analyst rating of “Hold” and a $5.00 price target.
• Institutional ownership increased: Several hedge funds and asset managers raised their positions, and institutional investors collectively own 43.79% of Arbutus Biopharma’s shares.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01), FiscalAI reports. Arbutus Biopharma had a return on equity of 129.32% and a net margin of 83.95%.The business had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma Trading Down 3.0%

Shares of ABUS traded down $0.14 during midday trading on Wednesday, reaching $4.53. 658,916 shares of the stock were exchanged, compared to its average volume of 2,028,565. Arbutus Biopharma has a 52 week low of $3.31 and a 52 week high of $5.38. The company's 50 day moving average is $4.54 and its two-hundred day moving average is $4.41. The company has a market capitalization of $894.85 million, a P/E ratio of 5.46 and a beta of 0.64.

Institutional Trading of Arbutus Biopharma

Hedge funds have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC increased its holdings in Arbutus Biopharma by 86.5% during the fourth quarter. ADAR1 Capital Management LLC now owns 5,415,109 shares of the biopharmaceutical company's stock valued at $26,047,000 after buying an additional 2,511,883 shares during the period. Morgan Stanley boosted its position in Arbutus Biopharma by 9.2% during the 4th quarter. Morgan Stanley now owns 26,702,776 shares of the biopharmaceutical company's stock valued at $128,440,000 after acquiring an additional 2,252,164 shares in the last quarter. State Street Corp boosted its position in Arbutus Biopharma by 44.2% during the 4th quarter. State Street Corp now owns 5,908,211 shares of the biopharmaceutical company's stock valued at $28,418,000 after acquiring an additional 1,809,893 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Arbutus Biopharma by 290.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,075,948 shares of the biopharmaceutical company's stock valued at $7,245,000 after acquiring an additional 1,544,070 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Arbutus Biopharma by 63.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,575,941 shares of the biopharmaceutical company's stock valued at $7,960,000 after acquiring an additional 1,000,000 shares during the period. 43.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABUS. Weiss Ratings reissued a "sell (d-)" rating on shares of Arbutus Biopharma in a research note on Friday, July 17th. Wall Street Zen raised shares of Arbutus Biopharma from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arbutus Biopharma has an average rating of "Hold" and a consensus target price of $5.00.

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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