Rhumbline Advisers Boosts Stake in Arbutus Biopharma Corporation (NASDAQ:ABUS)

Rhumbline Advisers grew its holdings in shares of Arbutus Biopharma Corporation (NASDAQ:ABUSFree Report) by 6.4% during the first quarter, HoldingsChannel reports. The firm owned 200,757 shares of the biopharmaceutical company’s stock after purchasing an additional 12,159 shares during the quarter. Rhumbline Advisers’ holdings in Arbutus Biopharma were worth $701,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Arbutus Biopharma in the 4th quarter valued at $34,000. Xponance Inc. bought a new position in shares of Arbutus Biopharma during the fourth quarter worth about $34,000. E Fund Management Co. Ltd. bought a new position in shares of Arbutus Biopharma during the fourth quarter worth about $34,000. Cibc World Markets Corp bought a new position in Arbutus Biopharma in the fourth quarter worth about $45,000. Finally, Hsbc Holdings PLC bought a new position in Arbutus Biopharma in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Trading Down 1.2%

Arbutus Biopharma stock opened at $3.43 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.01 and a current ratio of 6.01. The firm has a market cap of $656.95 million, a price-to-earnings ratio of -8.37 and a beta of 1.23. Arbutus Biopharma Corporation has a 1 year low of $2.71 and a 1 year high of $4.73. The firm’s 50 day moving average price is $3.34 and its two-hundred day moving average price is $3.33.

Arbutus Biopharma (NASDAQ:ABUSGet Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $1.76 million during the quarter, compared to analyst estimates of $2.54 million. Arbutus Biopharma had a negative return on equity of 75.51% and a negative net margin of 1,196.64%. On average, research analysts predict that Arbutus Biopharma Corporation will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABUS shares. Wall Street Zen upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 29th. Chardan Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Arbutus Biopharma presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Get Our Latest Stock Analysis on Arbutus Biopharma

Arbutus Biopharma Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arbutus Biopharma (NASDAQ:ABUS)

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