Xponance Inc. Purchases Shares of 10,486 Arbutus Biopharma Co. (NASDAQ:ABUS)

Xponance Inc. purchased a new position in Arbutus Biopharma Co. (NASDAQ:ABUS) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,486 shares of the biopharmaceutical company’s stock, valued at approximately $34,000.

A number of other hedge funds have also recently modified their holdings of ABUS. E Fund Management Co. Ltd. purchased a new stake in shares of Arbutus Biopharma during the fourth quarter worth about $34,000. Raymond James Financial Inc. purchased a new position in Arbutus Biopharma during the 4th quarter valued at about $34,000. Cibc World Markets Corp bought a new position in Arbutus Biopharma during the 4th quarter valued at approximately $45,000. XTX Topco Ltd lifted its holdings in Arbutus Biopharma by 76.2% in the 3rd quarter. XTX Topco Ltd now owns 30,013 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 12,975 shares during the period. Finally, Ballentine Partners LLC bought a new stake in shares of Arbutus Biopharma in the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABUS. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Friday. StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Stock Up 7.0 %

NASDAQ ABUS opened at $3.50 on Friday. The firm has a market capitalization of $663.22 million, a PE ratio of -8.14 and a beta of 1.93. The stock’s 50 day moving average is $3.34 and its 200 day moving average is $3.56. Arbutus Biopharma Co. has a twelve month low of $2.30 and a twelve month high of $4.73.

Arbutus Biopharma (NASDAQ:ABUS) last announced its earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.57 million for the quarter, compared to analysts’ expectations of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. On average, research analysts anticipate that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

Arbutus Biopharma 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.