Arbutus Biopharma (NASDAQ:ABUS) Issues Earnings Results

by · The Cerbat Gem

Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.90, FiscalAI reports. Arbutus Biopharma had a negative return on equity of 42.39% and a negative net margin of 237.88%.The firm had revenue of $179.13 million during the quarter, compared to analysts’ expectations of $0.75 million.

Arbutus Biopharma Trading Down 1.0%

Shares of NASDAQ:ABUS traded down $0.05 during mid-day trading on Thursday, hitting $4.27. 259,256 shares of the company traded hands, compared to its average volume of 2,048,036. The stock has a market cap of $839.95 million, a P/E ratio of -25.09 and a beta of 0.62. Arbutus Biopharma has a 12-month low of $2.94 and a 12-month high of $5.10. The stock has a 50-day moving average price of $4.42 and a two-hundred day moving average price of $4.43.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Arbutus Biopharma by 17.9% during the fourth quarter. Invesco Ltd. now owns 247,254 shares of the biopharmaceutical company’s stock valued at $1,189,000 after buying an additional 37,616 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Arbutus Biopharma by 15.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 45,120 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 6,161 shares during the last quarter. Virtus Investment Advisers LLC boosted its position in shares of Arbutus Biopharma by 77.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 56,483 shares of the biopharmaceutical company’s stock valued at $272,000 after buying an additional 24,699 shares during the last quarter. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma in the fourth quarter worth $104,000. Finally, Man Group plc boosted its position in Arbutus Biopharma by 52.2% in the fourth quarter. Man Group plc now owns 120,821 shares of the biopharmaceutical company’s stock worth $581,000 after purchasing an additional 41,447 shares during the last quarter. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Arbutus Biopharma has an average rating of “Hold” and a consensus target price of $5.00.

Get Our Latest Stock Analysis on ABUS

About Arbutus Biopharma

(Get Free Report)

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.

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