Price T Rowe Associates Inc. MD Buys 6,649 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Price T Rowe Associates Inc. MD grew its stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 22.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 36,388 shares of the biopharmaceutical company’s stock after acquiring an additional 6,649 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Arbutus Biopharma were worth $94,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. PFG Investments LLC bought a new stake in shares of Arbutus Biopharma during the 1st quarter valued at $50,000. Premier Path Wealth Partners LLC raised its holdings in shares of Arbutus Biopharma by 37.4% during the 1st quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company’s stock worth $79,000 after buying an additional 8,300 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Arbutus Biopharma by 66.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,233 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 12,833 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of Arbutus Biopharma by 30.5% during the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 9,800 shares in the last quarter. Finally, Cowen AND Company LLC acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth $125,000. 43.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABUS. JMP Securities boosted their price target on Arbutus Biopharma from $4.00 to $5.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Thursday, June 6th. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Chardan Capital reissued a “buy” rating and set a $4.00 price target on shares of Arbutus Biopharma in a report on Wednesday, June 5th.

Arbutus Biopharma Stock Down 1.1 %

Shares of ABUS opened at $3.71 on Monday. Arbutus Biopharma Co. has a 12-month low of $1.69 and a 12-month high of $3.98. The business has a 50-day simple moving average of $3.45 and a two-hundred day simple moving average of $3.06. The stock has a market cap of $700.37 million, a PE ratio of -8.43 and a beta of 1.96.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Arbutus Biopharma had a negative return on equity of 66.68% and a negative net margin of 766.20%. The firm had revenue of $1.73 million during the quarter, compared to analyst estimates of $1.54 million. During the same period in the previous year, the company earned ($0.10) EPS. On average, equities research analysts expect that Arbutus Biopharma Co. will post -0.38 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 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.