ADAR1 Capital Management LLC Purchases 324,312 Shares of Arbutus Biopharma Corporation $ABUS

Key Points

• ADAR1 Capital Management LLC increased its ownership in Arbutus Biopharma Corporation by 20.9%, holding nearly 1.88 million shares, which represents 1.2% of its total portfolio.
• Other institutional investors have also raised their stakes in Arbutus Biopharma, with Woodline Partners LP seeing a significant increase of 45.4% in their holdings.
• Analysts maintain a positive outlook on Arbutus Biopharma, with a consensus buy rating and a target price averaging $5.50

ADAR1 Capital Management LLC lifted its position in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,879,114 shares of the biopharmaceutical company's stock after acquiring an additional 324,312 shares during the period. Arbutus Biopharma comprises approximately 1.2% of ADAR1 Capital Management LLC's holdings, making the stock its 20th largest position. ADAR1 Capital Management LLC owned approximately 0.98% of Arbutus Biopharma worth $6,558,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company's stock worth $228,000 after buying an additional 3,780 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Arbutus Biopharma by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,031 shares of the biopharmaceutical company's stock worth $265,000 after acquiring an additional 6,371 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Arbutus Biopharma by 9.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 78,894 shares of the biopharmaceutical company's stock worth $275,000 after acquiring an additional 6,614 shares during the period. MetLife Investment Management LLC grew its stake in Arbutus Biopharma by 8.9% during the 1st quarter. MetLife Investment Management LLC now owns 88,887 shares of the biopharmaceutical company's stock valued at $310,000 after acquiring an additional 7,235 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Arbutus Biopharma by 10.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company's stock valued at $292,000 after purchasing an additional 8,308 shares during the period. Hedge funds and other institutional investors own 43.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABUS. Wall Street Zen downgraded shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a research report on Friday. Chardan Capital reiterated a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $5.00.

Arbutus Biopharma Price Performance

Shares of ABUS stock traded up $0.19 on Friday, hitting $4.20. The company's stock had a trading volume of 2,831,470 shares, compared to its average volume of 901,093. The stock has a market capitalization of $805.14 million, a price-to-earnings ratio of -14.48 and a beta of 1.01. Arbutus Biopharma Corporation has a fifty-two week low of $2.70 and a fifty-two week high of $4.72. The firm's fifty day moving average price is $3.39 and its 200-day moving average price is $3.35.

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

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.