Invesco Ltd. Acquires 69,631 Shares of Arbutus Biopharma Corporation $ABUS

Key Points

• Invesco Ltd. increased its stake in Arbutus Biopharma Corporation by 99.7%, acquiring an additional 69,631 shares, bringing their total ownership to 139,462 shares valued at approximately $487,000.
• Several hedge funds, including Whitefort Capital Management and Bank of America Corp DE, have also increased their holdings in Arbutus Biopharma, indicating strong institutional interest in the company.
• Despite posting a profit of $0.01 EPS, Arbutus Biopharma's negative return on equity and net margin suggest ongoing challenges, with analysts forecasting a consensus rating of "Buy" and an average price target of $5.00.

Invesco Ltd. raised its stake in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) by 99.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 139,462 shares of the biopharmaceutical company's stock after purchasing an additional 69,631 shares during the period. Invesco Ltd. owned 0.07% of Arbutus Biopharma worth $487,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ABUS. Whitefort Capital Management LP grew its holdings in Arbutus Biopharma by 2.9% during the fourth quarter. Whitefort Capital Management LP now owns 13,241,916 shares of the biopharmaceutical company's stock valued at $43,301,000 after purchasing an additional 373,949 shares during the period. Two Seas Capital LP grew its holdings in Arbutus Biopharma by 4.2% during the fourth quarter. Two Seas Capital LP now owns 8,740,956 shares of the biopharmaceutical company's stock valued at $28,583,000 after purchasing an additional 353,568 shares during the period. Woodline Partners LP grew its holdings in Arbutus Biopharma by 45.4% during the fourth quarter. Woodline Partners LP now owns 971,628 shares of the biopharmaceutical company's stock valued at $3,177,000 after purchasing an additional 303,475 shares during the period. Saba Capital Management L.P. grew its holdings in Arbutus Biopharma by 31.3% during the fourth quarter. Saba Capital Management L.P. now owns 887,993 shares of the biopharmaceutical company's stock valued at $2,904,000 after purchasing an additional 211,566 shares during the period. Finally, Bank of America Corp DE grew its holdings in Arbutus Biopharma by 90.8% during the fourth quarter. Bank of America Corp DE now owns 361,304 shares of the biopharmaceutical company's stock valued at $1,181,000 after purchasing an additional 171,906 shares during the period. Institutional investors own 43.79% of the company's stock.

Arbutus Biopharma Trading Up 4.7%

NASDAQ:ABUS opened at $4.20 on Friday. The company has a market capitalization of $805.14 million, a P/E ratio of -14.48 and a beta of 1.01. Arbutus Biopharma Corporation has a 12 month low of $2.70 and a 12 month high of $4.72. The business's 50-day moving average is $3.39 and its 200 day moving average is $3.35.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The company had revenue of $10.74 million for the quarter, compared to the consensus estimate 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 forecast that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

ABUS has been the subject of several recent research reports. Wall Street Zen lowered Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Friday. Chardan Capital restated a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus 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.

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