ADAR1 Capital Management LLC Makes New $6.09 Million Investment in Arbutus Biopharma Corporation $ABUS

Key Points

• ADAR1 Capital Management acquired 1,268,147 Arbutus Biopharma shares worth approximately $6.09 million, giving it a 0.64% stake. Institutional investors collectively own 43.79% of ABUS.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $5.00, despite mixed recent rating changes.
• Arbutus reported a quarterly loss of $0.03 per share, missing estimates by $0.01, while revenue of $1.01 million exceeded expectations of $0.70 million; shares recently opened at $5.20.

ADAR1 Capital Management LLC purchased a new stake in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,268,147 shares of the biopharmaceutical company's stock, valued at approximately $6,087,000. ADAR1 Capital Management LLC owned approximately 0.64% of Arbutus Biopharma as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Arbutus Biopharma by 290.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,075,948 shares of the biopharmaceutical company's stock worth $7,245,000 after buying an additional 1,544,070 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Arbutus Biopharma by 5.1% in the 2nd 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 period. Rhumbline Advisers increased its holdings in shares of Arbutus Biopharma by 3.5% in the 2nd 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 period. Prudential Financial Inc. raised its position in shares of Arbutus Biopharma by 71.5% in the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 7,610 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Arbutus Biopharma by 29.8% in the 2nd quarter. Invesco Ltd. now owns 181,084 shares of the biopharmaceutical company's stock worth $560,000 after acquiring an additional 41,622 shares in the last quarter. Hedge funds and other institutional investors own 43.79% of the company's stock.

Analyst Upgrades and Downgrades

ABUS has been the topic of a number of recent research reports. Wall Street Zen downgraded 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 report on Wednesday, August 12th. One equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.00.

Arbutus Biopharma Stock Performance

Shares of ABUS opened at $5.20 on Wednesday. The stock has a 50-day moving average of $4.66 and a two-hundred day moving average of $4.47. Arbutus Biopharma Corporation has a one year low of $3.50 and a one year high of $5.45. The stock has a market cap of $1.03 billion, a P/E ratio of 6.58 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The firm had revenue of $1.01 million during 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 has authorized a share buyback program on Friday, August 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are 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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