Jupiter Topco LLC Invests $2.87 Million in Arbutus Biopharma Corporation $ABUS

Key Points

• Jupiter Topco LLC acquired 597,423 Arbutus Biopharma shares valued at approximately $2.87 million, representing a 0.30% stake.
• Several other institutional investors also increased exposure, bringing institutional and hedge-fund ownership to 43.79% of the company.
• ABUS shares opened at $5.10, near their 12-month high of $5.45. The company reported a quarterly loss of $0.03 per share, missing estimates by $0.01, while analysts maintain a “Moderate Buy” consensus with a $5.00 price target.

Jupiter Topco LLC bought a new position in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 597,423 shares of the biopharmaceutical company's stock, valued at approximately $2,867,000. Jupiter Topco LLC owned 0.30% of Arbutus Biopharma as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Whitefort Capital Management LP acquired a new stake in Arbutus Biopharma in the 2nd quarter worth about $75,812,453. Two Seas Capital LP bought a new position in shares of Arbutus Biopharma during the second quarter worth approximately $91,659,000. Rubric Capital Management LP raised its position in shares of Arbutus Biopharma by 320.6% in the first quarter. Rubric Capital Management LP now owns 6,626,389 shares of the biopharmaceutical company's stock valued at $29,819,000 after buying an additional 5,051,013 shares in the last quarter. Western Standard LLC acquired a new stake in shares of Arbutus Biopharma in the second quarter valued at approximately $2,605,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Arbutus Biopharma in the second quarter valued at approximately $624,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Stock Up 0.2%

Shares of ABUS stock opened at $5.10 on Thursday. Arbutus Biopharma Corporation has a twelve month low of $3.50 and a twelve month high of $5.45. The stock's fifty day simple moving average is $4.73 and its 200 day simple moving average is $4.51. The firm has a market capitalization of $1.01 billion, a P/E ratio of 6.46 and a beta of 0.62.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The firm had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma declared that its Board of Directors has initiated a stock buyback plan on Friday, August 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have commented on ABUS. Weiss Ratings upgraded Arbutus Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded Arbutus Biopharma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company's pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.

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