Arbutus Biopharma Corporation $ABUS Shares Acquired by Rubric Capital Management LP

Key Points

• Rubric Capital Management LP increased its Arbutus Biopharma stake by 320.6% in the first quarter, acquiring 5.05 million additional shares. It now owns 6.63 million shares, or approximately 3.35% of the company, valued at $29.8 million.
• Institutional investors and hedge funds collectively own 43.79% of ABUS. The stock opened at $4.41, with a market capitalization of approximately $871 million and a 52-week range of $3.24 to $5.38.
• Analyst sentiment remains mixed, with one Buy and one Sell rating producing a consensus “Hold” rating and a $5.00 target price. Arbutus reported quarterly revenue of $179.13 million and earnings of $0.87 per share.

Rubric Capital Management LP boosted its holdings in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 320.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,626,389 shares of the biopharmaceutical company's stock after purchasing an additional 5,051,013 shares during the quarter. Rubric Capital Management LP owned approximately 3.35% of Arbutus Biopharma worth $29,819,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Oxford Asset Management LLP bought a new position in shares of Arbutus Biopharma in the 2nd quarter worth about $38,000. Voleon Capital Management LP acquired a new stake in shares of Arbutus Biopharma in the third quarter valued at $47,000. Cibc World Markets Corp bought a new position in Arbutus Biopharma during the fourth quarter valued at about $48,000. Principal Financial Group Inc. acquired a new position in Arbutus Biopharma during the first quarter worth about $49,000. Finally, Daiwa Securities Group Inc. raised its position in Arbutus Biopharma by 3,911.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 15,449 shares in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Stock Up 0.7%

NASDAQ:ABUS opened at $4.41 on Tuesday. The stock has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $4.41. The firm has a market capitalization of $871.15 million, a price-to-earnings ratio of 5.31 and a beta of 0.62. Arbutus Biopharma Corporation has a 1-year low of $3.24 and a 1-year high of $5.38.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABUS. Wall Street Zen raised shares of Arbutus Biopharma from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arbutus Biopharma in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Arbutus Biopharma currently has a consensus rating of "Hold" and a consensus target price of $5.00.

Arbutus Biopharma 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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