Western Standard LLC Takes Position in Arbutus Biopharma Corporation $ABUS

Western Standard LLC bought a new position in Arbutus Biopharma Corporation (NASDAQ:ABUS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 542,787 shares of the biopharmaceutical company’s stock, valued at approximately $2,605,000. Arbutus Biopharma makes up about 0.9% of Western Standard LLC’s holdings, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma during the second quarter valued at $38,000. Stoneridge Investment Partners LLC bought a new stake in Arbutus Biopharma in the 2nd quarter valued at $44,000. Voleon Capital Management LP purchased a new stake in Arbutus Biopharma in the 3rd quarter worth $47,000. Cibc World Markets Corp purchased a new stake in Arbutus Biopharma in the 4th quarter worth $48,000. Finally, Principal Financial Group Inc. bought a new position in shares of Arbutus Biopharma during the 1st quarter valued at about $49,000. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Stock Performance

Shares of ABUS opened at $4.98 on Thursday. The company’s fifty day moving average is $4.60 and its 200 day moving average is $4.44. Arbutus Biopharma Corporation has a fifty-two week low of $3.44 and a fifty-two week high of $5.38. The stock has a market capitalization of $985.29 million, a PE ratio of 6.30 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The business had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.70 million.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised Arbutus Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

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.