JPMorgan Chase & Co. Acquires 806,672 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

JPMorgan Chase & Co. increased its stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 900.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 896,258 shares of the biopharmaceutical company’s stock after acquiring an additional 806,672 shares during the quarter. JPMorgan Chase & Co.’s holdings in Arbutus Biopharma were worth $2,931,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABUS. E Fund Management Co. Ltd. acquired a new stake in Arbutus Biopharma in the 4th quarter worth $34,000. Xponance Inc. bought a new stake in shares of Arbutus Biopharma in the fourth quarter valued at about $34,000. Raymond James Financial Inc. acquired a new stake in Arbutus Biopharma during the fourth quarter worth about $34,000. Cibc World Markets Corp bought a new position in Arbutus Biopharma during the fourth quarter valued at about $45,000. Finally, KLP Kapitalforvaltning AS bought a new position in Arbutus Biopharma during the fourth quarter valued at about $84,000. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Trading Down 0.6 %

NASDAQ ABUS opened at $3.19 on Wednesday. Arbutus Biopharma Co. has a 1-year low of $2.63 and a 1-year high of $4.73. The company has a market capitalization of $610.82 million, a price-to-earnings ratio of -7.42 and a beta of 1.45. The stock’s 50 day moving average is $3.28 and its two-hundred day moving average is $3.45.

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

Wall Street Analyst Weigh In

ABUS has been the topic of several recent research reports. Chardan Capital reissued a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. Finally, StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arbutus Biopharma currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

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.