Man Group plc Takes $2.27 Million Position in Arbutus Biopharma Corporation $ABUS

Man Group plc bought a new position in Arbutus Biopharma Corporation (NASDAQ:ABUS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 473,467 shares of the biopharmaceutical company’s stock, valued at approximately $2,273,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABUS. Oxford Asset Management LLP purchased a new position in Arbutus Biopharma during the second quarter valued at approximately $38,000. Stoneridge Investment Partners LLC acquired a new position in Arbutus Biopharma in the second quarter valued at approximately $44,000. Voleon Capital Management LP purchased a new stake in Arbutus Biopharma in the 3rd quarter worth approximately $47,000. Cibc World Markets Corp purchased a new stake in Arbutus Biopharma in the 4th quarter worth approximately $48,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Arbutus Biopharma during the 1st quarter worth approximately $49,000. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Stock Performance

Shares of NASDAQ ABUS opened at $5.09 on Wednesday. The firm has a fifty day moving average of $4.72 and a 200 day moving average of $4.51. The firm has a market cap of $1.01 billion, a PE ratio of 6.44 and a beta of 0.64. Arbutus Biopharma Corporation has a one year low of $3.50 and a one year high of $5.45.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $0.70 million.

Arbutus Biopharma announced that its board has initiated a stock buyback program on Friday, August 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

About Arbutus Biopharma

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.