Rangeley Capital LLC Cuts Position in Arbutus Biopharma Corporation $ABUS

Rangeley Capital LLC decreased its position in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) by 40.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 500,000 shares of the biopharmaceutical company’s stock after selling 340,000 shares during the period. Arbutus Biopharma comprises about 2.1% of Rangeley Capital LLC’s holdings, making the stock its 9th largest holding. Rangeley Capital LLC’s holdings in Arbutus Biopharma were worth $2,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inceptionr LLC grew its holdings in Arbutus Biopharma by 14.6% in the first quarter. Inceptionr LLC now owns 32,580 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 4,162 shares during the period. Principal Financial Group Inc. purchased a new stake in Arbutus Biopharma during the 1st quarter valued at $49,000. SG Americas Securities LLC boosted its stake in Arbutus Biopharma by 89.8% during the 1st quarter. SG Americas Securities LLC now owns 79,033 shares of the biopharmaceutical company’s stock valued at $356,000 after purchasing an additional 37,395 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Arbutus Biopharma by 17.9% in the 4th quarter. Invesco Ltd. now owns 247,254 shares of the biopharmaceutical company’s stock worth $1,189,000 after purchasing an additional 37,616 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Arbutus Biopharma by 15.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 45,120 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 6,161 shares during the last quarter. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Stock Performance

NASDAQ:ABUS opened at $4.38 on Monday. The stock has a 50-day moving average price of $4.53 and a 200 day moving average price of $4.42. The stock has a market capitalization of $865.23 million, a P/E ratio of 5.28 and a beta of 0.62. Arbutus Biopharma Corporation has a 12-month low of $3.19 and a 12-month high of $5.38.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Tuesday, March 31st. The biopharmaceutical company reported $0.87 EPS for the quarter. Arbutus Biopharma had a return on equity of 129.32% and a net margin of 83.95%.The company had revenue of $179.13 million for the quarter. On average, research analysts predict that Arbutus Biopharma Corporation will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arbutus Biopharma in a report on Friday, July 17th. Wall Street Zen upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arbutus Biopharma has a consensus rating of “Hold” and a consensus target price 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.