Arbutus Biopharma (NASDAQ:ABUS) Issues Earnings Results

Arbutus Biopharma (NASDAQ:ABUS) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01), FiscalAI reports. The firm had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.70 million. Arbutus Biopharma had a return on equity of 129.32% and a net margin of 83.95%.

Arbutus Biopharma Price Performance

NASDAQ ABUS traded down $0.14 during trading on Wednesday, hitting $4.53. The company’s stock had a trading volume of 658,916 shares, compared to its average volume of 2,028,565. Arbutus Biopharma has a fifty-two week low of $3.31 and a fifty-two week high of $5.38. The company has a market cap of $894.85 million, a PE ratio of 5.46 and a beta of 0.64. The business’s 50 day simple moving average is $4.54 and its 200-day simple moving average is $4.41.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Arbutus Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.00.

Institutional Trading of Arbutus Biopharma

A number of institutional investors have recently bought and sold shares of ABUS. Oxford Asset Management LLP acquired a new position in Arbutus Biopharma during the 2nd quarter valued at approximately $38,000. Voleon Capital Management LP purchased a new stake 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. 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 acquiring an additional 15,449 shares during the period. 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 acquiring an additional 7,610 shares during the period. 43.79% of the stock is currently 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.