Rangeley Capital LLC Acquires Shares of 1,459,000 Arbutus Biopharma Co. (NASDAQ:ABUS)

Rangeley Capital LLC acquired a new position in Arbutus Biopharma Co. (NASDAQ:ABUS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,459,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,771,000. Arbutus Biopharma accounts for 4.3% of Rangeley Capital LLC’s portfolio, making the stock its 6th biggest holding. Rangeley Capital LLC owned 0.77% of Arbutus Biopharma as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABUS. E Fund Management Co. Ltd. purchased a new stake in Arbutus Biopharma in the 4th quarter worth approximately $34,000. Xponance Inc. purchased a new stake in Arbutus Biopharma during the fourth quarter worth $34,000. Raymond James Financial Inc. acquired a new stake in Arbutus Biopharma during the fourth quarter valued at $34,000. Cibc World Markets Corp purchased a new position in Arbutus Biopharma in the fourth quarter valued at $45,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Arbutus Biopharma in the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Wall Street Analyst Weigh In

ABUS has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, January 21st. StockNews.com upgraded Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, March 28th. One equities research 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 an average target price of $5.50.

Arbutus Biopharma Stock Performance

Shares of ABUS stock opened at $3.51 on Thursday. Arbutus Biopharma Co. has a fifty-two week low of $2.30 and a fifty-two week high of $4.73. The stock’s fifty day moving average is $3.35 and its two-hundred day moving average is $3.54. The firm has a market capitalization of $672.09 million, a P/E ratio of -8.16 and a beta of 1.45.

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

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.