ADAR1 Capital Management LLC Cuts Stake in Arbutus Biopharma Co. (NASDAQ:ABUS)

ADAR1 Capital Management LLC cut its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 25.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,554,802 shares of the biopharmaceutical company’s stock after selling 534,519 shares during the quarter. Arbutus Biopharma makes up approximately 1.0% of ADAR1 Capital Management LLC’s portfolio, making the stock its 23rd largest holding. ADAR1 Capital Management LLC’s holdings in Arbutus Biopharma were worth $5,084,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Arbutus Biopharma by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,980,864 shares of the biopharmaceutical company’s stock worth $29,367,000 after acquiring an additional 62,282 shares during the last quarter. State Street Corp lifted its holdings in Arbutus Biopharma by 50.2% during the 3rd quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company’s stock worth $16,967,000 after buying an additional 1,472,652 shares in the last quarter. Geode Capital Management LLC grew its stake in Arbutus Biopharma by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,482,136 shares of the biopharmaceutical company’s stock worth $11,390,000 after purchasing an additional 33,536 shares in the last quarter. Rangeley Capital LLC acquired a new position in shares of Arbutus Biopharma during the fourth quarter worth about $4,771,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arbutus Biopharma by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,222,201 shares of the biopharmaceutical company’s stock worth $3,997,000 after acquiring an additional 9,955 shares in the last quarter. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ABUS shares. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a report on Tuesday, January 21st. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, March 28th. Finally, StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Price Performance

Shares of NASDAQ:ABUS opened at $3.23 on Monday. The stock has a market cap of $618.48 million, a P/E ratio of -7.51 and a beta of 1.45. Arbutus Biopharma Co. has a 1-year low of $2.63 and a 1-year high of $4.73. The firm has a fifty day moving average price of $3.36 and a 200 day moving average price of $3.53.

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

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.