208,145 Shares in Arbutus Biopharma Corporation $ABUS Acquired by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC acquired 208,145 shares of Arbutus Biopharma during the second quarter, worth approximately $999,000 and representing about 0.11% of the company.
• Several major institutional investors also built new or larger positions, including Two Seas Capital, Whitefort Capital, BlackRock, and Rubric Capital. Hedge funds and other institutions collectively own 43.79% of Arbutus shares.
• ABUS recently traded at $5.07, near its 52-week high, while the company reported a quarterly loss of $0.03 per share that missed estimates. Analysts maintain a “Moderate Buy” consensus with a $5.00 target price.

Squarepoint Ops 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 SEC. The firm purchased 208,145 shares of the biopharmaceutical company's stock, valued at approximately $999,000. Squarepoint Ops LLC owned about 0.11% of Arbutus Biopharma as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Two Seas Capital LP purchased a new position in shares of Arbutus Biopharma in the 2nd quarter worth $91,659,000. Whitefort Capital Management LP purchased a new position in shares of Arbutus Biopharma in the 2nd quarter worth about $75,812,453. BlackRock Inc. purchased a new position in shares of Arbutus Biopharma in the 2nd quarter worth about $66,077,000. Rubric Capital Management LP grew its holdings in shares of Arbutus Biopharma by 320.6% during the 1st quarter. Rubric Capital Management LP now owns 6,626,389 shares of the biopharmaceutical company's stock worth $29,819,000 after purchasing an additional 5,051,013 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Arbutus Biopharma during the 2nd quarter worth approximately $12,702,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Up 0.4%

ABUS opened at $5.07 on Friday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 6.42 and a beta of 0.62. The firm's 50 day moving average is $4.79 and its 200-day moving average is $4.58. Arbutus Biopharma Corporation has a 52-week low of $3.50 and a 52-week high of $5.45.

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

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 outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on ABUS. Wall Street Zen lowered shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Arbutus Biopharma has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Arbutus Biopharma Profile

Arbutus Biopharma Corporation NASDAQ: ABUS is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research is aimed at addressing multiple stages of the HBV lifecycle and developing therapies that may improve long-term viral suppression and support a functional cure.

The company's pipeline has included AB-729, an RNA interference-based therapy designed to reduce hepatitis B surface antigen, and AB-836, an orally administered capsid assembly modulator intended to interfere with HBV replication.

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