Bank of America Corp DE Raises Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

Bank of America Corp DE raised its stake in Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 90.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 361,304 shares of the biopharmaceutical company's stock after purchasing an additional 171,906 shares during the quarter. Bank of America Corp DE owned 0.19% of Arbutus Biopharma worth $1,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Arbutus Biopharma by 5.7% in the fourth quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company's stock worth $228,000 after purchasing an additional 3,780 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Arbutus Biopharma by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company's stock valued at $138,000 after acquiring an additional 6,644 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Arbutus Biopharma by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,452 shares of the biopharmaceutical company's stock valued at $185,000 after acquiring an additional 8,648 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Arbutus Biopharma by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,222,201 shares of the biopharmaceutical company's stock valued at $3,997,000 after acquiring an additional 9,955 shares during the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Arbutus Biopharma during the fourth quarter valued at approximately $34,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Performance

NASDAQ ABUS traded up $0.08 on Friday, hitting $3.48. 557,502 shares of the stock traded hands, compared to its average volume of 975,806. The business's fifty day moving average is $3.27 and its two-hundred day moving average is $3.33. Arbutus Biopharma Co. has a 12 month low of $2.71 and a 12 month high of $4.73. The firm has a market capitalization of $666.51 million, a price-to-earnings ratio of -8.09 and a beta of 1.23.

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

Analyst Ratings Changes

A number of analysts recently commented on ABUS shares. Wall Street Zen raised Arbutus Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, March 29th. Chardan Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Arbutus Biopharma currently has an average rating of "Moderate Buy" and an average target price of $5.50.

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.