Rhumbline Advisers Increases Stake in Arbutus Biopharma Corporation $ABUS

Rhumbline Advisers boosted its stake in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,757 shares of the biopharmaceutical company’s stock after acquiring an additional 12,159 shares during the quarter. Rhumbline Advisers owned 0.10% of Arbutus Biopharma worth $701,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Arbutus Biopharma by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,031 shares of the biopharmaceutical company’s stock valued at $265,000 after acquiring an additional 6,371 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Arbutus Biopharma by 9.2% in the first quarter. SBI Securities Co. Ltd. now owns 78,894 shares of the biopharmaceutical company’s stock valued at $275,000 after buying an additional 6,614 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Arbutus Biopharma by 8.9% in the first quarter. MetLife Investment Management LLC now owns 88,887 shares of the biopharmaceutical company’s stock valued at $310,000 after buying an additional 7,235 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Arbutus Biopharma by 10.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 8,308 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Arbutus Biopharma in the first quarter valued at approximately $35,000. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Down 3.8%

Shares of Arbutus Biopharma stock opened at $4.25 on Monday. The business’s fifty day simple moving average is $3.64 and its 200-day simple moving average is $3.42. Arbutus Biopharma Corporation has a 52 week low of $2.70 and a 52 week high of $5.10. The firm has a market cap of $814.72 million, a PE ratio of -14.66 and a beta of 1.01.

Arbutus Biopharma (NASDAQ:ABUS) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Arbutus Biopharma had a negative return on equity of 59.28% and a negative net margin of 352.24%.The firm had revenue of $10.74 million for the quarter, compared to analyst estimates of $2.21 million. As a group, equities analysts expect that Arbutus Biopharma Corporation will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen cut Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Chardan Capital restated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Arbutus Biopharma presently has an average rating of “Buy” and a consensus target price of $5.00.

About Arbutus Biopharma

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.