BlackBarn Capital Partners LP Increases Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

BlackBarn Capital Partners LP increased its stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,341,871 shares of the biopharmaceutical company’s stock after buying an additional 270,971 shares during the period. Arbutus Biopharma comprises about 0.4% of BlackBarn Capital Partners LP’s holdings, making the stock its 12th biggest position. BlackBarn Capital Partners LP’s holdings in Arbutus Biopharma were worth $7,658,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. purchased a new stake in shares of Arbutus Biopharma during the 4th quarter worth approximately $34,000. Xponance Inc. purchased a new position in shares of Arbutus Biopharma during the 4th quarter valued at $34,000. Raymond James Financial Inc. bought a new position in shares of Arbutus Biopharma during the 4th quarter worth $34,000. Cibc World Markets Corp bought a new stake in Arbutus Biopharma in the 4th quarter valued at about $45,000. Finally, Hsbc Holdings PLC purchased a new stake in Arbutus Biopharma during the fourth quarter valued at about $55,000. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Trading Up 1.9 %

Arbutus Biopharma stock opened at $3.21 on Tuesday. The firm’s 50 day simple moving average is $3.29 and its 200 day simple moving average is $3.45. Arbutus Biopharma Co. has a 1-year low of $2.63 and a 1-year high of $4.73. The firm has a market capitalization of $614.65 million, a PE ratio of -7.46 and a beta of 1.45.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Friday, March 28th. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Arbutus Biopharma in a report on Tuesday, January 21st. Finally, StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Arbutus Biopharma Profile

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.