Whitefort Capital Management LP acquired a new stake in Arbutus Biopharma Corporation (NASDAQ:ABUS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,794,261 shares of the biopharmaceutical company's stock, valued at approximately $75,812,453. Arbutus Biopharma comprises approximately 0.0% of Whitefort Capital Management LP's investment portfolio, making the stock its biggest holding. Whitefort Capital Management LP owned about 8.00% of Arbutus Biopharma at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new position in shares of Arbutus Biopharma during the fourth quarter valued at approximately $48,000. Stoneridge Investment Partners LLC acquired a new position in shares of Arbutus Biopharma during the second quarter worth approximately $44,000. Voleon Capital Management LP bought a new position in shares of Arbutus Biopharma in the third quarter valued at approximately $47,000. Principal Financial Group Inc. bought a new position in Arbutus Biopharma during the first quarter worth about $49,000. Finally, Amundi bought a new stake in shares of Arbutus Biopharma in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 43.79% of the company's stock.
Arbutus Biopharma Stock Performance
Shares of NASDAQ ABUS traded down $0.06 during midday trading on Friday, reaching $5.11. 2,517,664 shares of the company's stock were exchanged, compared to its average volume of 2,285,795. Arbutus Biopharma Corporation has a 52-week low of $3.50 and a 52-week high of $5.45. The business's fifty day moving average price is $4.69 and its two-hundred day moving average price is $4.49. The stock has a market capitalization of $1.01 billion, a PE ratio of 6.47 and a beta of 0.64.
Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share (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 business had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.70 million.
Arbutus Biopharma declared that its board has authorized a stock buyback program on Friday, August 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.
Analysts Set New Price Targets
A number of analysts recently commented on ABUS shares. Weiss Ratings raised Arbutus Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday. 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Arbutus Biopharma has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.
Read Our Latest Research Report on ABUS
Arbutus Biopharma Profile
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Free Report)
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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