ADAR1 Capital Management LLC cut its position in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 42.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,133,175 shares of the biopharmaceutical company's stock after selling 2,281,934 shares during the quarter. Arbutus Biopharma accounts for about 0.8% of ADAR1 Capital Management LLC's holdings, making the stock its 27th biggest holding. ADAR1 Capital Management LLC owned about 1.59% of Arbutus Biopharma worth $14,099,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ABUS. Goldman Sachs Group Inc. raised its holdings in 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 buying an additional 1,544,070 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Arbutus Biopharma by 5.1% during the second quarter. Legal & General Group Plc now owns 124,486 shares of the biopharmaceutical company's stock valued at $385,000 after acquiring an additional 6,089 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Arbutus Biopharma by 3.5% during the second quarter. Rhumbline Advisers now owns 207,805 shares of the biopharmaceutical company's stock valued at $642,000 after acquiring an additional 7,048 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Arbutus Biopharma by 71.5% during the second quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 7,610 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Arbutus Biopharma by 29.8% during the second quarter. Invesco Ltd. now owns 181,084 shares of the biopharmaceutical company's stock worth $560,000 after purchasing an additional 41,622 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
ABUS has been the subject of a number of recent research reports. Wall Street Zen upgraded Arbutus Biopharma from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arbutus Biopharma in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arbutus Biopharma presently has a consensus rating of "Hold" and a consensus target price of $5.00.
View Our Latest Analysis on ABUS
Arbutus Biopharma Price Performance
ABUS opened at $4.41 on Wednesday. Arbutus Biopharma Corporation has a twelve month low of $3.26 and a twelve month high of $5.38. The company has a fifty day moving average of $4.54 and a 200-day moving average of $4.41. The stock has a market cap of $871.15 million, a PE ratio of 5.31 and a beta of 0.62.
Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last announced its earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share for the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. The business had revenue of $179.13 million during the quarter. Sell-side analysts anticipate that Arbutus Biopharma Corporation will post -0.16 EPS for the current fiscal year.
Arbutus Biopharma Profile
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Free Report)
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.
See Also
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