Goldman Sachs Group Inc. Raises Stock Holdings in Arbutus Biopharma Corporation $ABUS

Goldman Sachs Group Inc. boosted its stake in Arbutus Biopharma Corporation (NASDAQ:ABUS) by 290.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,075,948 shares of the biopharmaceutical company’s stock after buying an additional 1,544,070 shares during the period. Goldman Sachs Group Inc. owned approximately 1.08% of Arbutus Biopharma worth $7,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in Arbutus Biopharma by 6.4% in the 1st quarter. Rhumbline Advisers now owns 200,757 shares of the biopharmaceutical company’s stock valued at $701,000 after buying an additional 12,159 shares during the period. Wealth Management Associates Inc. increased its stake in Arbutus Biopharma by 58.0% during the first quarter. Wealth Management Associates Inc. now owns 96,420 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 35,400 shares during the period. Woodline Partners LP increased its stake in Arbutus Biopharma by 173.3% during the first quarter. Woodline Partners LP now owns 2,655,738 shares of the biopharmaceutical company’s stock worth $9,269,000 after purchasing an additional 1,684,110 shares during the period. Two Seas Capital LP increased its stake in Arbutus Biopharma by 8.3% during the first quarter. Two Seas Capital LP now owns 9,465,956 shares of the biopharmaceutical company’s stock worth $33,036,000 after purchasing an additional 725,000 shares during the period. Finally, ADAR1 Capital Management LLC increased its stake in Arbutus Biopharma by 20.9% during the first quarter. ADAR1 Capital Management LLC now owns 1,879,114 shares of the biopharmaceutical company’s stock worth $6,558,000 after purchasing an additional 324,312 shares during the period. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Performance

ABUS stock opened at $4.46 on Friday. The company’s 50 day moving average price is $3.52 and its 200 day moving average price is $3.38. Arbutus Biopharma Corporation has a fifty-two week low of $2.70 and a fifty-two week high of $5.10. The firm has a market capitalization of $854.98 million, a price-to-earnings ratio of -15.38 and a beta of 1.01.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $10.74 million for the quarter, compared to analyst estimates of $2.21 million. Arbutus Biopharma had a negative net margin of 352.24% and a negative return on equity of 59.28%. Equities analysts forecast that Arbutus Biopharma Corporation will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABUS. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Monday, August 11th. Wall Street Zen lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Arbutus Biopharma currently has a consensus rating of “Buy” and an average price target of $5.00.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.