Arbutus Biopharma (NASDAQ:ABUS) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Arbutus Biopharma (NASDAQ:ABUSGet Rating) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03, Fidelity Earnings reports. Arbutus Biopharma had a negative net margin of 211.09% and a negative return on equity of 69.41%. During the same period in the previous year, the firm earned ($0.23) earnings per share.

Arbutus Biopharma Trading Down 0.4 %

NASDAQ:ABUS traded down $0.01 during trading hours on Friday, reaching $2.53. 965,856 shares of the company’s stock were exchanged, compared to its average volume of 841,623. Arbutus Biopharma has a 12 month low of $1.93 and a 12 month high of $6.50. The business’s 50-day simple moving average is $2.58 and its two-hundred day simple moving average is $2.71.

Institutional Trading of Arbutus Biopharma

A number of large investors have recently added to or reduced their stakes in the business. Two Seas Capital LP lifted its position in shares of Arbutus Biopharma by 166.4% in the 1st quarter. Two Seas Capital LP now owns 2,199,069 shares of the biopharmaceutical company’s stock valued at $6,553,000 after acquiring an additional 1,373,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Arbutus Biopharma by 122.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,541,185 shares of the biopharmaceutical company’s stock valued at $4,592,000 after acquiring an additional 847,914 shares in the last quarter. BlackRock Inc. lifted its position in shares of Arbutus Biopharma by 10.7% in the 1st quarter. BlackRock Inc. now owns 6,824,829 shares of the biopharmaceutical company’s stock valued at $20,338,000 after acquiring an additional 658,480 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Arbutus Biopharma by 80.4% in the 1st quarter. Wellington Management Group LLP now owns 505,264 shares of the biopharmaceutical company’s stock valued at $1,506,000 after acquiring an additional 225,175 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Arbutus Biopharma by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 4,738,178 shares of the biopharmaceutical company’s stock valued at $14,120,000 after acquiring an additional 182,684 shares in the last quarter. 26.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities decreased their price objective on shares of Arbutus Biopharma from $10.00 to $9.00 and set a “market outperform” rating for the company in a report on Tuesday, June 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.13.

About Arbutus Biopharma

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Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel covalently conjugated N-acetylgalactosamine (GalNAc) delivery technology; and AB-836, an oral capsid inhibitor that suppresses HBV DNA replication.

Further Reading

Earnings History for Arbutus Biopharma (NASDAQ:ABUS)

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