Arbutus Biopharma (NASDAQ:ABUS) Posts Earnings Results

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

Arbutus Biopharma Price Performance

NASDAQ:ABUS opened at $4.42 on Tuesday. The firm has a market capitalization of $850.07 million, a P/E ratio of -19.22 and a beta of 0.69. Arbutus Biopharma has a one year low of $2.70 and a one year high of $5.10. The company’s 50-day simple moving average is $4.31 and its 200 day simple moving average is $4.43.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Arbutus Biopharma

Several large investors have recently made changes to their positions in the business. Oxford Asset Management LLP bought a new stake in shares of Arbutus Biopharma in the 2nd quarter worth $38,000. Voleon Capital Management LP bought a new position in shares of Arbutus Biopharma during the third quarter valued at $47,000. Cibc World Markets Corp purchased a new stake in shares of Arbutus Biopharma during the fourth quarter valued at $48,000. Daiwa Securities Group Inc. boosted its position in shares of Arbutus Biopharma by 3,911.1% during the second quarter. Daiwa Securities Group Inc. now owns 15,844 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 15,449 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Arbutus Biopharma by 71.5% in the 2nd quarter. Prudential Financial Inc. now owns 18,255 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 7,610 shares in the last quarter. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

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.