Arbutus Biopharma Corporation (NASDAQ:ABUS) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd increased its stake in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) by 37.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,412 shares of the biopharmaceutical company’s stock after purchasing an additional 19,831 shares during the period. XTX Topco Ltd’s holdings in Arbutus Biopharma were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cyndeo Wealth Partners LLC acquired a new position in shares of Arbutus Biopharma during the 1st quarter worth about $35,000. Raymond James Financial Inc. acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth about $34,000. Hsbc Holdings PLC acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth about $55,000. Ameriprise Financial Inc. acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth about $62,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Arbutus Biopharma during the 4th quarter worth about $64,000. Institutional investors and hedge funds own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

Arbutus Biopharma stock opened at $3.35 on Tuesday. The firm has a 50 day simple moving average of $3.32 and a 200-day simple moving average of $3.31. Arbutus Biopharma Corporation has a 1-year low of $2.70 and a 1-year high of $4.72. The stock has a market cap of $642.20 million, a price-to-earnings ratio of -11.55 and a beta of 0.86.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABUS. Wall Street Zen raised shares of Arbutus Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.