UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.25 Million Stock Position in Arbutus Biopharma Corporation $ABUS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Arbutus Biopharma Corporation (NASDAQ:ABUS) by 68.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,052 shares of the biopharmaceutical company’s stock after selling 577,158 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Arbutus Biopharma were worth $1,253,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Cibc World Markets Corp purchased a new stake in shares of Arbutus Biopharma in the 4th quarter valued at approximately $48,000. Stoneridge Investment Partners LLC purchased a new position in Arbutus Biopharma during the 2nd quarter worth approximately $44,000. Voleon Capital Management LP purchased a new position in Arbutus Biopharma during the 3rd quarter worth approximately $47,000. Principal Financial Group Inc. purchased a new position in Arbutus Biopharma during the 1st quarter worth approximately $49,000. Finally, Amundi acquired a new stake in Arbutus Biopharma during the 4th quarter valued at $57,000. Institutional investors and hedge funds own 43.79% of the company’s stock.

Arbutus Biopharma Price Performance

NASDAQ ABUS opened at $5.12 on Friday. The company has a 50 day simple moving average of $4.79 and a 200-day simple moving average of $4.56. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 6.48 and a beta of 0.62. Arbutus Biopharma Corporation has a 52-week low of $3.50 and a 52-week high of $5.45.

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 company had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $0.70 million. Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%.

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

Analysts Set New Price Targets

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

Arbutus Biopharma Profile

Arbutus Biopharma Corporation (NASDAQ: ABUS) is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research is aimed at addressing multiple stages of the HBV lifecycle and developing therapies that may improve long-term viral suppression and support a functional cure.

The company’s pipeline has included AB-729, an RNA interference-based therapy designed to reduce hepatitis B surface antigen, and AB-836, an orally administered capsid assembly modulator intended to interfere with HBV replication.