1,711,672 Shares in Arbutus Biopharma Corporation $ABUS Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,711,672 shares of the biopharmaceutical company’s stock, valued at approximately $8,216,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its position in shares of Arbutus Biopharma by 9.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 38,959 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 3,280 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Arbutus Biopharma by 10.5% in the 4th quarter. ProShare Advisors LLC now owns 36,161 shares of the biopharmaceutical company’s stock valued at $174,000 after acquiring an additional 3,446 shares during the period. The Manufacturers Life Insurance Company raised its position in Arbutus Biopharma by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,350 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 3,540 shares during the last quarter. Inceptionr LLC raised its position in Arbutus Biopharma by 14.6% in the 1st 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 last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Arbutus Biopharma by 6.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 88,454 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 5,590 shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

NASDAQ:ABUS opened at $5.17 on Friday. The firm’s fifty day moving average price is $4.69 and its 200 day moving average price is $4.49. Arbutus Biopharma Corporation has a 1-year low of $3.50 and a 1-year high of $5.45. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 6.54 and a beta of 0.64.

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

Arbutus Biopharma announced that its Board of Directors has approved a stock buyback plan on Friday, August 21st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings raised shares of Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Wall Street Zen downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.