ADAR1 Capital Management LLC Decreases Stock Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

ADAR1 Capital Management LLC lowered its stake in Arbutus Biopharma Co. (NASDAQ:ABUS) by 25.6% in the 4th quarter, according to the company in its most recent Form 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 period. Arbutus Biopharma makes up approximately 1.0% of ADAR1 Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. ADAR1 Capital Management LLC owned 0.82% of Arbutus Biopharma worth $5,084,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABUS. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, March 28th. Finally, StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Trading Down 8.0 %

ABUS opened at $3.23 on Monday. Arbutus Biopharma Co. has a 12-month low of $2.63 and a 12-month high of $4.73. The firm has a 50 day moving average of $3.36 and a two-hundred day moving average of $3.53. The firm has a market capitalization of $618.48 million, a PE ratio of -7.51 and a beta of 1.45.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, analysts predict that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal 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.