Balyasny Asset Management L.P. Makes New $136,000 Investment in Arbutus Biopharma Co. (NASDAQ:ABUS)

Balyasny Asset Management L.P. purchased a new stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 41,690 shares of the biopharmaceutical company’s stock, valued at approximately $136,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ABUS. Invesco Ltd. lifted its position in Arbutus Biopharma by 5.7% in the 4th quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 3,780 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Arbutus Biopharma by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 3,870 shares during the period. Clear Harbor Asset Management LLC increased its stake in shares of Arbutus Biopharma by 6.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 5,000 shares in the last quarter. Teacher Retirement System of Texas increased its position in Arbutus Biopharma by 18.7% in the fourth quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 6,644 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Arbutus Biopharma by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,452 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 8,648 shares in the last quarter. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Trading Down 1.3%

Arbutus Biopharma stock opened at $3.08 on Monday. Arbutus Biopharma Co. has a 12-month low of $2.71 and a 12-month high of $4.73. The firm has a 50-day moving average price of $3.28 and a 200-day moving average price of $3.37. The firm has a market capitalization of $589.90 million, a PE ratio of -7.16 and a beta of 1.50.

Arbutus Biopharma (NASDAQ:ABUS) last announced its 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 for the quarter, compared to analysts’ expectations of $2.54 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. As a group, sell-side analysts predict that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ABUS. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Finally, Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research report on Friday, March 28th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.