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Bank of America Corp DE Has $1.18 Million Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

Arbutus Biopharma logo with Medical background

Bank of America Corp DE grew its stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 90.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 361,304 shares of the biopharmaceutical company's stock after buying an additional 171,906 shares during the period. Bank of America Corp DE owned approximately 0.19% of Arbutus Biopharma worth $1,181,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. bought a new position in Arbutus Biopharma in the fourth quarter worth $62,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Arbutus Biopharma in the 4th quarter valued at $67,000. Northern Trust Corp lifted its holdings in shares of Arbutus Biopharma by 8.3% during the 4th quarter. Northern Trust Corp now owns 1,330,683 shares of the biopharmaceutical company's stock worth $4,351,000 after acquiring an additional 102,241 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Arbutus Biopharma during the 4th quarter valued at about $662,000. Finally, Two Sigma Securities LLC bought a new stake in Arbutus Biopharma in the fourth quarter valued at about $64,000. Institutional investors own 43.79% of the company's stock.

Arbutus Biopharma Stock Up 1.1%

NASDAQ:ABUS traded up $0.04 on Tuesday, reaching $3.55. The stock had a trading volume of 491,710 shares, compared to its average volume of 971,023. The company has a market capitalization of $679.92 million, a P/E ratio of -8.26 and a beta of 1.23. Arbutus Biopharma Co. has a 1-year low of $2.71 and a 1-year high of $4.73. The stock has a fifty day moving average price of $3.27 and a 200-day moving average price of $3.33.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its earnings results on Wednesday, May 14th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. The firm had revenue of $1.76 million during the quarter, compared to the consensus estimate of $2.54 million. Sell-side analysts predict that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABUS. Chardan Capital reissued a "buy" rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, March 28th. Wall Street Zen raised Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Arbutus Biopharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.50.

Check Out Our Latest Report on Arbutus Biopharma

Arbutus Biopharma Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arbutus Biopharma (NASDAQ:ABUS)

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