JPMorgan Chase & Co. Raises Stock Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

JPMorgan Chase & Co. raised its stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) by 900.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 896,258 shares of the biopharmaceutical company's stock after acquiring an additional 806,672 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Arbutus Biopharma worth $2,931,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Arbutus Biopharma by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,980,864 shares of the biopharmaceutical company's stock valued at $29,367,000 after acquiring an additional 62,282 shares during the last quarter. State Street Corp increased its position in shares of Arbutus Biopharma by 50.2% during the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company's stock valued at $16,967,000 after acquiring an additional 1,472,652 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arbutus Biopharma by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,448,600 shares of the biopharmaceutical company's stock valued at $13,280,000 after acquiring an additional 135,442 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Arbutus Biopharma by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,222,201 shares of the biopharmaceutical company's stock valued at $3,997,000 after acquiring an additional 9,955 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Arbutus Biopharma by 466.3% during the third quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company's stock valued at $1,047,000 after acquiring an additional 223,995 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Price Performance

Shares of ABUS stock traded up $0.05 during trading on Monday, reaching $3.34. The company's stock had a trading volume of 625,357 shares, compared to its average volume of 989,934. The company has a market capitalization of $639.54 million, a price-to-earnings ratio of -7.77 and a beta of 1.45. The stock's 50-day moving average price is $3.28 and its 200 day moving average price is $3.44. Arbutus Biopharma Co. has a 1-year low of $2.63 and a 1-year high of $4.73.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. The company had revenue of $1.57 million during the quarter, compared to analysts' expectations of $2.20 million. On average, sell-side analysts anticipate that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Chardan Capital reiterated a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, March 28th. StockNews.com upgraded shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. Finally, HC Wainwright restated a "buy" rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Arbutus Biopharma has a consensus rating of "Moderate Buy" and an average target price of $5.50.

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.