Arbutus Biopharma Corporation $ABUS is Rangeley Capital LLC's 9th Largest Position

Key Points

• Rangeley Capital reduced its Arbutus Biopharma stake by 40.5% in the first quarter, selling 340,000 shares and retaining 500,000 shares worth approximately $2.25 million. ABUS represents about 2.1% of the firm’s portfolio and is its ninth-largest holding.
• Institutional investors own 43.79% of Arbutus Biopharma, with several firms recently initiating or increasing positions, including Daiwa Securities Group, which expanded its stake by more than 3,900%.
• ABUS shares opened at $4.38, within a 52-week range of $3.19 to $5.38. Analyst sentiment is mixed—one analyst rates it Buy and another Sell—resulting in a consensus Hold rating and a $5.00 price target.

Rangeley Capital LLC cut its stake in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the biopharmaceutical company's stock after selling 340,000 shares during the period. Arbutus Biopharma comprises approximately 2.1% of Rangeley Capital LLC's investment portfolio, making the stock its 9th largest holding. Rangeley Capital LLC owned 0.25% of Arbutus Biopharma worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Oxford Asset Management LLP bought a new position in shares of Arbutus Biopharma in the second quarter valued at approximately $38,000. Voleon Capital Management LP bought a new stake in Arbutus Biopharma during the third quarter worth $47,000. Cibc World Markets Corp purchased a new position in Arbutus Biopharma in the fourth quarter worth $48,000. Principal Financial Group Inc. purchased a new position in Arbutus Biopharma in the first quarter worth $49,000. Finally, Daiwa Securities Group Inc. grew its stake in Arbutus Biopharma by 3,911.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 15,449 shares during the period. Institutional investors own 43.79% of the company's stock.

Arbutus Biopharma Stock Performance

Shares of ABUS stock opened at $4.38 on Monday. The company has a market capitalization of $865.23 million, a P/E ratio of 5.28 and a beta of 0.62. The stock has a 50 day moving average price of $4.53 and a two-hundred day moving average price of $4.42. Arbutus Biopharma Corporation has a fifty-two week low of $3.19 and a fifty-two week high of $5.38.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $179.13 million for the quarter. Arbutus Biopharma had a net margin of 83.95% and a return on equity of 129.32%. As a group, equities analysts predict that Arbutus Biopharma Corporation will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ABUS shares. Wall Street Zen raised shares of Arbutus Biopharma from a "hold" rating to a "buy" rating in a research 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 analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.00.

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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