15,794,261 Shares in Arbutus Biopharma Corporation $ABUS Bought by Whitefort Capital Management LP

Whitefort Capital Management LP purchased a new position in Arbutus Biopharma Corporation (NASDAQ:ABUS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,794,261 shares of the biopharmaceutical company’s stock, valued at approximately $75,812,453,000. Arbutus Biopharma comprises about 18.7% of Whitefort Capital Management LP’s investment portfolio, making the stock its largest position. Whitefort Capital Management LP owned approximately 0.08% of Arbutus Biopharma at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABUS. Rubric Capital Management LP lifted its stake in shares of Arbutus Biopharma by 320.6% in the 1st quarter. Rubric Capital Management LP now owns 6,626,389 shares of the biopharmaceutical company’s stock valued at $29,819,000 after acquiring an additional 5,051,013 shares during the last quarter. Two Seas Capital LP bought a new position in Arbutus Biopharma during the 2nd quarter worth approximately $91,659,000. Western Standard LLC bought a new position in Arbutus Biopharma during the 2nd quarter worth approximately $2,605,000. Avidity Partners Management LP purchased a new position in Arbutus Biopharma in the 1st quarter worth approximately $562,000. Finally, E Fund Management Co. Ltd. purchased a new position in Arbutus Biopharma in the 2nd quarter worth approximately $69,000. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Performance

Shares of NASDAQ ABUS opened at $5.20 on Wednesday. The firm has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $4.47. Arbutus Biopharma Corporation has a 12 month low of $3.50 and a 12 month high of $5.45. The firm has a market capitalization of $1.03 billion, a PE ratio of 6.58 and a beta of 0.64.

Arbutus Biopharma (NASDAQ:ABUS) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.70 million.

Arbutus Biopharma announced that its board has authorized a stock buyback plan on Friday, August 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABUS shares. Wall Street Zen downgraded Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Arbutus Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Arbutus Biopharma 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.