Arbutus Biopharma (NASDAQ:ABUS) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Arbutus Biopharma (NASDAQ:ABUS) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.05, FiscalAI reports. The business had revenue of $1.05 million for the quarter, compared to the consensus estimate of $0.83 million. Arbutus Biopharma had a negative net margin of 237.88% and a negative return on equity of 41.96%.

Arbutus Biopharma Trading Down 2.5%

Arbutus Biopharma stock opened at $4.31 on Wednesday. The company has a market cap of $828.90 million, a PE ratio of -25.35 and a beta of 0.69. Arbutus Biopharma has a 1 year low of $2.70 and a 1 year high of $5.10. The company’s 50-day moving average is $4.30 and its two-hundred day moving average is $4.44.

Institutional Investors Weigh In On Arbutus Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of ABUS. Verition Fund Management LLC acquired a new stake in shares of Arbutus Biopharma during the fourth quarter worth $96,000. State of Wyoming acquired a new position in Arbutus Biopharma in the fourth quarter valued at about $74,000. CIBC Asset Management Inc bought a new position in Arbutus Biopharma during the fourth quarter worth about $69,000. CIBC Bancorp USA Inc. acquired a new position in shares of Arbutus Biopharma during the 3rd quarter worth about $73,000. Finally, Brooklyn Investment Group grew its position in shares of Arbutus Biopharma by 3,485.6% during the 3rd quarter. Brooklyn Investment Group now owns 14,163 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 13,768 shares during the period. 43.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

About Arbutus Biopharma

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.