Arbutus Biopharma Corporation $ABUS Shares Sold by Two Seas Capital LP

Two Seas Capital LP reduced its holdings in Arbutus Biopharma Corporation (NASDAQ:ABUS) by 57.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,143,994 shares of the biopharmaceutical company’s stock after selling 10,951,589 shares during the quarter. Arbutus Biopharma comprises 0.4% of Two Seas Capital LP’s holdings, making the stock its 22nd largest holding. Two Seas Capital LP’s holdings in Arbutus Biopharma were worth $38,928,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABUS. Whitefort Capital Management LP acquired a new position in Arbutus Biopharma in the second quarter valued at approximately $75,812,453. BlackRock Inc. acquired a new stake in shares of Arbutus Biopharma during the 2nd quarter worth approximately $66,077,000. Rubric Capital Management LP increased its stake in shares of Arbutus Biopharma by 320.6% in the 1st quarter. Rubric Capital Management LP now owns 6,626,389 shares of the biopharmaceutical company’s stock valued at $29,819,000 after acquiring an additional 5,051,013 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Arbutus Biopharma in the 2nd quarter valued at $12,702,000. Finally, Legal & General Group Plc acquired a new position in shares of Arbutus Biopharma during the 2nd quarter valued at $11,837,000. 43.79% of the stock is currently owned by institutional investors.

Arbutus Biopharma Stock Down 4.1%

NASDAQ:ABUS traded down $0.19 on Tuesday, hitting $4.48. The stock had a trading volume of 8,259,820 shares, compared to its average volume of 2,973,682. The business’s fifty day moving average is $4.85 and its 200 day moving average is $4.60. The company has a market cap of $887.51 million, a PE ratio of 5.67 and a beta of 0.76. Arbutus Biopharma Corporation has a 52 week low of $3.50 and a 52 week high of $5.45.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.70 million. Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%.

Arbutus Biopharma announced that its Board of Directors has approved a share buyback plan on Friday, August 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABUS shares. Weiss Ratings raised shares of Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

About Arbutus Biopharma

Arbutus Biopharma Corporation is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection and other viral diseases. The company’s research programs are based primarily on RNA interference (RNAi) therapeutics and small-molecule compounds designed to suppress viral replication and address the underlying biology of persistent infection.

Arbutus’ HBV pipeline has included AB-729, an investigational subcutaneously administered RNAi therapeutic intended to reduce hepatitis B surface antigen, and AB-836, an investigational oral capsid inhibitor designed to interfere with HBV replication.