Aberdeen Group plc Purchases New Stake in Arbutus Biopharma Corporation $ABUS

Key Points

• Aberdeen Group plc has invested approximately $1.63 million in Arbutus Biopharma Corporation, acquiring 467,383 shares of the biopharmaceutical company.
• Institutional investors own 43.79% of Arbutus Biopharma's stock, with several funds increasing their positions in the last quarter.
• Wall Street analysts have a consensus rating of "Buy" for Arbutus Biopharma, with an average price target of $5.50.

Aberdeen Group plc bought a new position in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 467,383 shares of the biopharmaceutical company's stock, valued at approximately $1,631,000. Aberdeen Group plc owned about 0.24% of Arbutus Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Arbutus Biopharma in the fourth quarter worth approximately $34,000. Cyndeo Wealth Partners LLC acquired a new position in Arbutus Biopharma during the first quarter valued at approximately $35,000. Hsbc Holdings PLC acquired a new position in Arbutus Biopharma during the fourth quarter valued at approximately $55,000. Ameriprise Financial Inc. acquired a new position in Arbutus Biopharma during the fourth quarter valued at approximately $62,000. Finally, Two Sigma Securities LLC acquired a new position in Arbutus Biopharma during the fourth quarter valued at approximately $64,000. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Stock Up 4.4%

Shares of NASDAQ ABUS traded up $0.16 during trading on Tuesday, reaching $3.66. 1,971,744 shares of the stock were exchanged, compared to its average volume of 871,920. The business's 50-day moving average price is $3.31 and its 200 day moving average price is $3.31. Arbutus Biopharma Corporation has a twelve month low of $2.70 and a twelve month high of $4.72. The company has a market capitalization of $700.66 million, a price-to-earnings ratio of -12.64 and a beta of 0.86.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. The business had revenue of $10.74 million for the quarter, compared to analysts' expectations of $2.21 million. As a group, sell-side analysts expect that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABUS. Wall Street Zen raised shares of Arbutus Biopharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Chardan Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Monday, August 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $5.50.

Arbutus Biopharma Company 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.