Intech Investment Management LLC Purchases 20,232 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Intech Investment Management LLC lifted its position in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 54.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 57,084 shares of the biopharmaceutical company’s stock after buying an additional 20,232 shares during the quarter. Intech Investment Management LLC’s holdings in Arbutus Biopharma were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. acquired a new position in Arbutus Biopharma in the 4th quarter valued at $34,000. Raymond James Financial Inc. bought a new stake in shares of Arbutus Biopharma in the fourth quarter valued at about $34,000. Cibc World Markets Corp acquired a new position in shares of Arbutus Biopharma in the fourth quarter valued at about $45,000. Ballentine Partners LLC bought a new position in Arbutus Biopharma during the fourth quarter worth about $102,000. Finally, XTX Topco Ltd raised its stake in Arbutus Biopharma by 76.2% in the 3rd quarter. XTX Topco Ltd now owns 30,013 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 12,975 shares in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Trading Down 2.4 %

Shares of Arbutus Biopharma stock opened at $3.27 on Friday. The company has a market cap of $619.64 million, a PE ratio of -7.60 and a beta of 1.93. The company has a 50 day moving average of $3.33 and a 200-day moving average of $3.58. Arbutus Biopharma Co. has a 1-year low of $2.30 and a 1-year high of $4.73.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. The firm had revenue of $1.57 million during the quarter, compared to analysts’ expectations of $2.20 million. Research analysts forecast that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABUS shares. StockNews.com lowered shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday, March 13th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, Arbutus Biopharma currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

About Arbutus Biopharma

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.