Arbutus Biopharma Corporation $ABUS Holdings Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Arbutus Biopharma stake by 68.9% in the second quarter, selling 577,158 shares and retaining 261,052 shares worth approximately $1.25 million. Institutional investors collectively own 43.79% of ABUS.
• Analyst sentiment remains moderately positive, with one Buy and one Hold rating and a consensus price target of $5.00. ABUS recently traded at $5.12, within its 52-week range of $3.50 to $5.45.
• Arbutus reported a quarterly loss of $0.03 per share, missing expectations by $0.01, while revenue of $1.01 million exceeded estimates. The company is focused on developing therapies for chronic hepatitis B, including AB-729 and AB-836.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 68.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,052 shares of the biopharmaceutical company's stock after selling 577,158 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Arbutus Biopharma worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABUS. Cibc World Markets Corp bought a new stake in Arbutus Biopharma during the fourth quarter worth approximately $48,000. Stoneridge Investment Partners LLC bought a new position in Arbutus Biopharma during the 2nd quarter valued at $44,000. Voleon Capital Management LP bought a new position in Arbutus Biopharma during the 3rd quarter valued at $47,000. Principal Financial Group Inc. acquired a new position in shares of Arbutus Biopharma during the 1st quarter valued at $49,000. Finally, Amundi bought a new stake in shares of Arbutus Biopharma in the 4th quarter worth $57,000. Institutional investors and hedge funds own 43.79% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings raised Arbutus Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. One research 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Arbutus Biopharma Stock Performance

NASDAQ ABUS opened at $5.12 on Friday. The stock has a market capitalization of $1.01 billion, a P/E ratio of 6.48 and a beta of 0.62. Arbutus Biopharma Corporation has a 1 year low of $3.50 and a 1 year high of $5.45. The business's fifty day moving average is $4.79 and its two-hundred day moving average is $4.56.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.70 million. Arbutus Biopharma had a return on equity of 90.98% and a net margin of 84.22%.

Arbutus Biopharma declared that its board has authorized a share buyback plan on Friday, August 21st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Arbutus Biopharma Company 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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