Arbutus Biopharma (NASDAQ:ABUS) Posts Quarterly Earnings Results

Arbutus Biopharma (NASDAQ:ABUS) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01), FiscalAI reports. Arbutus Biopharma had a return on equity of 129.32% and a net margin of 83.95%.The company had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma Stock Performance

Shares of NASDAQ:ABUS opened at $4.59 on Thursday. The firm has a fifty day moving average of $4.54 and a 200 day moving average of $4.42. Arbutus Biopharma has a 52-week low of $3.31 and a 52-week high of $5.38. The firm has a market capitalization of $906.71 million, a PE ratio of 5.53 and a beta of 0.64.

Hedge Funds Weigh In On Arbutus Biopharma

Institutional investors have recently modified their holdings of the company. Oxford Asset Management LLP purchased a new stake in Arbutus Biopharma in the second quarter worth approximately $38,000. Voleon Capital Management LP purchased a new stake in Arbutus Biopharma during the third quarter valued at about $47,000. Cibc World Markets Corp purchased a new position in shares of Arbutus Biopharma in the fourth quarter worth about $48,000. Daiwa Securities Group Inc. lifted its position in Arbutus Biopharma by 3,911.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 15,449 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Arbutus Biopharma by 71.5% during the second quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 7,610 shares during the period. 43.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABUS has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arbutus Biopharma in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Arbutus Biopharma from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.00.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company dedicated to discovering, developing and advancing a cure for chronic hepatitis B virus (HBV) infection. The company’s pipeline features both direct-acting antivirals and host-targeting therapies designed to reduce viral load and restore immune function. Lead programs include an RNA interference (RNAi) candidate aimed at silencing viral gene expression and next-generation capsid assembly modulators that seek to inhibit viral replication at its core.

In addition to its antiviral portfolio, Arbutus leverages proprietary lipid nanoparticle (LNP) delivery technology to optimize the distribution and cellular uptake of nucleic acid therapeutics.