Man Group plc Makes New $2.27 Million Investment in Arbutus Biopharma Corporation $ABUS

Key Points

• Man Group plc acquired 473,467 Arbutus Biopharma shares during the second quarter, valued at approximately $2.27 million and representing about 0.24% of the company. Institutional investors collectively own 43.79% of ABUS.
• Analyst sentiment is moderately positive, with one Buy and one Hold rating and a consensus price target of $5.00. Shares opened at $5.09, within their 52-week range of $3.50 to $5.45.
• Arbutus reported a quarterly loss of $0.03 per share, missing estimates by $0.01, while revenue of $1.01 million exceeded expectations. The company is developing therapies for chronic hepatitis B and uses lipid nanoparticle technology to deliver nucleic acid treatments.

Man Group plc acquired a new stake in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 473,467 shares of the biopharmaceutical company's stock, valued at approximately $2,273,000. Man Group plc owned approximately 0.24% of Arbutus Biopharma as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Oxford Asset Management LLP acquired a new stake in Arbutus Biopharma in the 2nd quarter worth approximately $38,000. Stoneridge Investment Partners LLC purchased a new stake in Arbutus Biopharma during the 2nd quarter worth approximately $44,000. Voleon Capital Management LP acquired a new position in Arbutus Biopharma during the 3rd quarter valued at approximately $47,000. Cibc World Markets Corp acquired a new position in Arbutus Biopharma during the 4th quarter valued at approximately $48,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Arbutus Biopharma in the first quarter worth $49,000. Institutional investors and hedge funds own 43.79% of the company's stock.

Wall Street Analyst Weigh In

ABUS has been the subject of several research reports. Weiss Ratings upgraded shares of Arbutus Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 26th. Wall Street Zen lowered Arbutus Biopharma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Arbutus Biopharma Stock Up 0.2%

Shares of NASDAQ ABUS opened at $5.09 on Wednesday. Arbutus Biopharma Corporation has a 52 week low of $3.50 and a 52 week high of $5.45. The business's 50 day moving average price is $4.72 and its 200 day moving average price is $4.51. The firm has a market cap of $1.01 billion, a P/E ratio of 6.44 and a beta of 0.64.

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

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

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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