Alliancebernstein L.P. Has $393,000 Stock Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

Alliancebernstein L.P. cut its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,240 shares of the biopharmaceutical company’s stock after selling 17,380 shares during the period. Alliancebernstein L.P. owned about 0.06% of Arbutus Biopharma worth $393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. E Fund Management Co. Ltd. bought a new position in shares of Arbutus Biopharma in the fourth quarter valued at approximately $34,000. Xponance Inc. acquired a new position in Arbutus Biopharma in the fourth quarter worth $34,000. Raymond James Financial Inc. bought a new position in shares of Arbutus Biopharma in the fourth quarter worth about $34,000. Cibc World Markets Corp acquired a new stake in shares of Arbutus Biopharma in the 4th quarter valued at $45,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Arbutus Biopharma during the 4th quarter valued at about $84,000. Institutional investors own 43.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABUS. StockNews.com raised 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 issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 28th. Finally, HC Wainwright reiterated a “buy” rating and set 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Stock Up 2.9 %

NASDAQ:ABUS opened at $3.15 on Monday. Arbutus Biopharma Co. has a 12-month low of $2.63 and a 12-month high of $4.73. The stock’s 50 day moving average price is $3.29 and its two-hundred day moving average price is $3.46. The firm has a market capitalization of $603.16 million, a price-to-earnings ratio of -7.33 and a beta of 1.45.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.57 million during the quarter, compared to analysts’ expectations of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. Equities research analysts expect that Arbutus Biopharma Co. will post -0.39 EPS for the current year.

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.