19,095,583 Shares in Arbutus Biopharma Corporation $ABUS Acquired by Two Seas Capital LP

Key Points

• Two Seas Capital LP acquired 19.1 million Arbutus Biopharma shares worth approximately $91.7 million, giving it a 9.67% stake and making ABUS its 13th-largest portfolio holding.
• Institutional ownership stands at 43.79%, while several other investment firms recently initiated positions in the biopharmaceutical company.
• ABUS shares opened at $5.21 after rising 9.2%; analysts’ consensus rating is “Moderate Buy” with a $5.00 target price, although the company slightly missed quarterly EPS estimates.

Two Seas Capital LP bought a new stake in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,095,583 shares of the biopharmaceutical company's stock, valued at approximately $91,659,000. Arbutus Biopharma accounts for about 1.8% of Two Seas Capital LP's portfolio, making the stock its 13th biggest holding. Two Seas Capital LP owned 9.67% of Arbutus Biopharma at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABUS. Cibc World Markets Corp bought a new position in shares of Arbutus Biopharma in the fourth quarter worth $48,000. Stoneridge Investment Partners LLC bought a new stake in shares of Arbutus Biopharma during the second quarter valued at about $44,000. Voleon Capital Management LP bought a new stake in shares of Arbutus Biopharma during the third quarter valued at about $47,000. Principal Financial Group Inc. acquired a new stake in Arbutus Biopharma in the first quarter worth about $49,000. Finally, Amundi acquired a new stake in Arbutus Biopharma in the fourth quarter worth about $57,000. Institutional investors own 43.79% of the company's stock.

Analyst Upgrades and Downgrades

ABUS has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Arbutus Biopharma from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Arbutus Biopharma presently has an average rating of "Moderate Buy" and a consensus target price of $5.00.

Arbutus Biopharma Stock Up 9.2%

Shares of Arbutus Biopharma stock opened at $5.21 on Friday. The business has a fifty day simple moving average of $4.62 and a 200-day simple moving average of $4.45. Arbutus Biopharma Corporation has a fifty-two week low of $3.49 and a fifty-two week high of $5.45. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 6.59 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a return on equity of 90.98% and a net margin of 84.22%.The business had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma announced that its Board of Directors has authorized a share buyback program on Friday, August 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board 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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