Millennium Management LLC Acquires 92,068 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Millennium Management LLC raised its stake in Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 36.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,028 shares of the biopharmaceutical company's stock after acquiring an additional 92,068 shares during the quarter. Millennium Management LLC owned about 0.18% of Arbutus Biopharma worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABUS. Invesco Ltd. grew its stake in shares of Arbutus Biopharma by 5.7% during the fourth quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company's stock valued at $228,000 after purchasing an additional 3,780 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Arbutus Biopharma by 18.7% during the 4th quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company's stock worth $138,000 after buying an additional 6,644 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Arbutus Biopharma by 10.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company's stock worth $292,000 after buying an additional 8,308 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Arbutus Biopharma by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,452 shares of the biopharmaceutical company's stock valued at $185,000 after buying an additional 8,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Arbutus Biopharma by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,222,201 shares of the biopharmaceutical company's stock valued at $3,997,000 after buying an additional 9,955 shares during the period. Institutional investors and hedge funds own 43.79% of the company's stock.

Arbutus Biopharma Stock Up 2.4%

Shares of Arbutus Biopharma stock traded up $0.08 during trading on Friday, reaching $3.48. 557,502 shares of the company were exchanged, compared to its average volume of 979,789. The firm has a market capitalization of $666.51 million, a price-to-earnings ratio of -8.09 and a beta of 1.50. Arbutus Biopharma Co. has a twelve month low of $2.71 and a twelve month high of $4.73. The business has a 50-day moving average price of $3.27 and a 200-day moving average price of $3.33.

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

Wall Street Analysts Forecast Growth

ABUS has been the topic of several research reports. Chardan Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Friday, March 28th. Wall Street Zen upgraded shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, March 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Arbutus Biopharma has an average rating of "Moderate Buy" and an average price target 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.