Arbutus Biopharma (NASDAQ:ABUS) Posts Earnings Results

Arbutus Biopharma (NASDAQ:ABUS) announced its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05, FiscalAI reports. Arbutus Biopharma had a negative net margin of 289.79% and a negative return on equity of 50.26%. The firm had revenue of $1.05 million for the quarter, compared to analyst estimates of $0.83 million.

Arbutus Biopharma Trading Down 3.0%

Shares of NASDAQ ABUS opened at $4.24 on Monday. Arbutus Biopharma has a 12-month low of $2.70 and a 12-month high of $5.10. The stock has a market cap of $815.44 million, a P/E ratio of -18.43 and a beta of 0.69. The business’s fifty day simple moving average is $4.31 and its 200-day simple moving average is $4.43.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arbutus Biopharma in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Arbutus Biopharma presently has an average rating of “Hold” and a consensus price target of $5.00.

Hedge Funds Weigh In On Arbutus Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oxford Asset Management LLP purchased a new stake in shares of Arbutus Biopharma during the second quarter worth approximately $38,000. Voleon Capital Management LP acquired a new position in Arbutus Biopharma during the 3rd quarter worth approximately $47,000. Cibc World Markets Corp acquired a new position in Arbutus Biopharma during the 4th quarter worth approximately $48,000. Daiwa Securities Group Inc. increased its position in shares of Arbutus Biopharma by 3,911.1% in the 2nd 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. increased its position in shares of Arbutus Biopharma by 71.5% in the 2nd 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 last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

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.