Goldman Sachs Group Inc. Raises Position in Arbutus Biopharma Corporation $ABUS

Key Points

• Goldman Sachs significantly increased its stake in Arbutus Biopharma by 290.3% during the first quarter, acquiring over 1.5 million additional shares.
• Arbutus Biopharma reported earnings of $0.01 per share for the most recent quarter, exceeding analyst expectations of a loss of $0.02 per share, with revenues of $10.74 million against estimates of $2.21 million.
• Institutional investors currently hold 43.79% of Arbutus Biopharma's stock, indicating strong support and interest from the investment community.

Goldman Sachs Group Inc. raised its stake in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 290.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,075,948 shares of the biopharmaceutical company's stock after purchasing an additional 1,544,070 shares during the period. Goldman Sachs Group Inc. owned about 1.08% of Arbutus Biopharma worth $7,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ABUS. Woodline Partners LP raised its position in shares of Arbutus Biopharma by 173.3% during the 1st quarter. Woodline Partners LP now owns 2,655,738 shares of the biopharmaceutical company's stock worth $9,269,000 after acquiring an additional 1,684,110 shares in the last quarter. Two Seas Capital LP raised its position in shares of Arbutus Biopharma by 8.3% during the 1st quarter. Two Seas Capital LP now owns 9,465,956 shares of the biopharmaceutical company's stock worth $33,036,000 after acquiring an additional 725,000 shares in the last quarter. Aberdeen Group plc acquired a new stake in shares of Arbutus Biopharma during the 1st quarter worth about $1,631,000. Whitefort Capital Management LP raised its position in shares of Arbutus Biopharma by 2.9% during the 4th quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company's stock worth $43,301,000 after acquiring an additional 373,949 shares in the last quarter. Finally, ADAR1 Capital Management LLC raised its position in shares of Arbutus Biopharma by 20.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,879,114 shares of the biopharmaceutical company's stock worth $6,558,000 after acquiring an additional 324,312 shares in the last quarter. Institutional investors and hedge funds own 43.79% of the company's stock.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock traded down $0.15 during trading on Friday, hitting $4.28. The company's stock had a trading volume of 479,332 shares, compared to its average volume of 944,629. The stock has a market capitalization of $819.51 million, a price-to-earnings ratio of -14.74 and a beta of 1.01. The stock's fifty day moving average is $3.62 and its 200 day moving average is $3.41. Arbutus Biopharma Corporation has a 1-year low of $2.70 and a 1-year high of $5.10.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $10.74 million during the quarter, compared to analyst estimates of $2.21 million. Arbutus Biopharma had a negative return on equity of 59.28% and a negative net margin of 352.24%. On average, research analysts anticipate that Arbutus Biopharma Corporation will post -0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABUS shares. Chardan Capital reissued a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Monday, August 11th. Wall Street Zen lowered Arbutus Biopharma from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Arbutus Biopharma currently has an average rating of "Buy" and an average price target of $5.00.

Arbutus Biopharma Profile

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.