CenterBook Partners LP Sells 321,037 Shares of Arbutus Biopharma Corporation $ABUS

CenterBook Partners LP lessened its holdings in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) by 72.1% in the third quarter, HoldingsChannel reports. The fund owned 124,114 shares of the biopharmaceutical company’s stock after selling 321,037 shares during the period. CenterBook Partners LP’s holdings in Arbutus Biopharma were worth $593,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Inceptionr LLC increased its holdings in shares of Arbutus Biopharma by 14.6% during the first quarter. Inceptionr LLC now owns 32,580 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 4,162 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Arbutus Biopharma by 14.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 36,099 shares of the biopharmaceutical company’s stock valued at $169,000 after purchasing an additional 4,661 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Arbutus Biopharma by 841.9% in the third quarter. Sterling Capital Management LLC now owns 5,322 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 4,757 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Arbutus Biopharma by 51.6% in the third quarter. SBI Securities Co. Ltd. now owns 23,453 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 7,978 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in Arbutus Biopharma in the third quarter worth about $47,000. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

Shares of NASDAQ:ABUS opened at $3.88 on Thursday. Arbutus Biopharma Corporation has a 12 month low of $3.50 and a 12 month high of $5.45. The stock has a market cap of $768.67 million, a price-to-earnings ratio of 3.38 and a beta of 0.84. The stock’s 50 day moving average price is $4.50 and its 200 day moving average price is $4.48.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Tuesday, November 10th. The biopharmaceutical company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.32. The firm had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.00 million. Arbutus Biopharma had a return on equity of 110.79% and a net margin of 121.17%.

Arbutus Biopharma announced that its board has approved a share buyback program on Friday, August 21st that permits the company to buy back outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Share repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.00.

About Arbutus Biopharma

Arbutus Biopharma is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research programs include RNA interference (RNAi) therapies, immune-based treatments and capsid assembly inhibitors, which target different aspects of the virus and the body’s response to infection. The company’s investigational portfolio includes imdusiran, an RNAi therapeutic designed to reduce hepatitis B surface antigen, as well as other HBV drug candidates at various stages of development.