Arbutus Biopharma Corporation $ABUS Shares Bought by Two Seas Capital LP

Key Points

• Two Seas Capital LP increased its stake in Arbutus Biopharma by 8.3% in the first quarter, owning approximately 9.47 million shares, which represents around 1.0% of its portfolio.
• Wall Street analysts have mixed views on Arbutus Biopharma, with Chardan Capital reiterating a "buy" rating and a price target of $5.00, while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.
• In its recent quarterly earnings, Arbutus Biopharma reported an earnings per share of $0.01, surpassing analyst estimates, with revenues of $10.74 million compared to a consensus forecast of $2.21 million.

Two Seas Capital LP raised its stake in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,465,956 shares of the biopharmaceutical company's stock after acquiring an additional 725,000 shares during the period. Arbutus Biopharma accounts for approximately 1.0% of Two Seas Capital LP's portfolio, making the stock its 9th largest position. Two Seas Capital LP owned approximately 4.94% of Arbutus Biopharma worth $33,036,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Arbutus Biopharma in the fourth quarter valued at $34,000. Cyndeo Wealth Partners LLC acquired a new position in Arbutus Biopharma in the first quarter valued at $35,000. Hsbc Holdings PLC acquired a new position in Arbutus Biopharma in the fourth quarter valued at $55,000. Ameriprise Financial Inc. acquired a new position in Arbutus Biopharma in the fourth quarter valued at $62,000. Finally, EntryPoint Capital LLC acquired a new position in Arbutus Biopharma in the first quarter valued at $65,000. Institutional investors and hedge funds own 43.79% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ABUS shares. Chardan Capital restated a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Arbutus Biopharma from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $5.00.

Arbutus Biopharma Stock Performance

NASDAQ:ABUS traded down $0.29 during mid-day trading on Friday, reaching $4.62. The stock had a trading volume of 709,532 shares, compared to its average volume of 940,107. Arbutus Biopharma Corporation has a twelve month low of $2.70 and a twelve month high of $5.10. The firm has a market capitalization of $884.70 million, a price-to-earnings ratio of -15.91 and a beta of 1.01. The business has a 50 day simple moving average of $3.50 and a 200 day simple moving average of $3.38.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. The company had revenue of $10.74 million during the quarter, compared to analysts' expectations of $2.21 million. As a group, sell-side analysts expect that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current year.

About Arbutus Biopharma

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.