Scotia Capital Inc. acquired a new stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS – Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 29,190 shares of the biopharmaceutical company’s stock, valued at approximately $88,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ABUS. JPMorgan Chase & Co. raised its stake in shares of Arbutus Biopharma by 37.9% during the 1st quarter. JPMorgan Chase & Co. now owns 58,926 shares of the biopharmaceutical company’s stock valued at $175,000 after purchasing an additional 16,189 shares during the period. Bank of New York Mellon Corp increased its stake in Arbutus Biopharma by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 367,189 shares of the biopharmaceutical company’s stock worth $1,094,000 after acquiring an additional 14,236 shares during the last quarter. Bank of Montreal Can increased its stake in Arbutus Biopharma by 34.5% in the 1st quarter. Bank of Montreal Can now owns 318,580 shares of the biopharmaceutical company’s stock worth $953,000 after acquiring an additional 81,722 shares during the last quarter. MetLife Investment Management LLC increased its stake in Arbutus Biopharma by 297.1% in the 1st quarter. MetLife Investment Management LLC now owns 39,628 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 29,648 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Arbutus Biopharma by 14.6% in the 1st quarter. Rhumbline Advisers now owns 103,778 shares of the biopharmaceutical company’s stock worth $309,000 after acquiring an additional 13,243 shares during the last quarter. 39.52% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on ABUS shares. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Arbutus Biopharma in a research note on Friday, August 4th. StockNews.com initiated coverage on Arbutus Biopharma in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Chardan Capital reiterated a “buy” rating and set a $6.00 price objective on shares of Arbutus Biopharma in a research report on Friday, August 4th.
Arbutus Biopharma Price Performance
Shares of ABUS stock opened at $2.03 on Monday. The stock has a market capitalization of $340.15 million, a PE ratio of -4.41 and a beta of 2.10. Arbutus Biopharma Co. has a 1-year low of $1.85 and a 1-year high of $3.14. The business has a 50-day moving average of $2.18 and a 200 day moving average of $2.54.
Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $5.02 million. Arbutus Biopharma had a negative return on equity of 52.00% and a negative net margin of 309.89%. Analysts anticipate that Arbutus Biopharma Co. will post -0.43 EPS for the current year.
Arbutus Biopharma Company Profile
Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.
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