Arete Wealth Advisors LLC Purchases New Holdings in Arbutus Biopharma Co. (NASDAQ:ABUS)

Posted by Defense World Staff on Jul 25th, 2023

Arete Wealth Advisors LLC purchased a new stake in shares of Arbutus Biopharma Co. (NASDAQ:ABUS – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the biopharmaceutical company’s stock, valued at approximately $45,450,000,000.

Several other large investors have also recently bought and sold shares of ABUS. JPMorgan Chase & Co. boosted its position in Arbutus Biopharma by 37.9% during the first quarter. JPMorgan Chase & Co. now owns 58,926 shares of the biopharmaceutical company’s stock valued at $175,000 after purchasing an additional 16,189 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Arbutus Biopharma by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 367,189 shares of the biopharmaceutical company’s stock valued at $1,094,000 after buying an additional 14,236 shares during the period. Bank of Montreal Can raised its stake in Arbutus Biopharma by 34.5% in the first quarter. Bank of Montreal Can now owns 318,580 shares of the biopharmaceutical company’s stock valued at $953,000 after buying an additional 81,722 shares during the period. MetLife Investment Management LLC raised its stake in Arbutus Biopharma by 297.1% in the first quarter. MetLife Investment Management LLC now owns 39,628 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 29,648 shares during the period. Finally, Rhumbline Advisers raised its stake in Arbutus Biopharma by 14.6% in the first quarter. Rhumbline Advisers now owns 103,778 shares of the biopharmaceutical company’s stock valued at $309,000 after buying an additional 13,243 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Trading Down 0.5 %

Shares of NASDAQ ABUS opened at $2.16 on Tuesday. The company has a current ratio of 6.08, a quick ratio of 6.08 and a debt-to-equity ratio of 0.02. Arbutus Biopharma Co. has a 1-year low of $1.85 and a 1-year high of $3.14. The business’s 50 day moving average is $2.40 and its 200-day moving average is $2.67.

Arbutus Biopharma (NASDAQ:ABUS – Get Free Report) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $6.69 million for the quarter, compared to analyst estimates of $4.52 million. Arbutus Biopharma had a negative return on equity of 48.34% and a negative net margin of 211.41%. Analysts expect that Arbutus Biopharma Co. will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABUS. JMP Securities restated a “market outperform” rating and issued a $6.00 price objective on shares of Arbutus Biopharma in a research note on Wednesday, March 29th. StockNews.com lowered Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, May 13th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Arbutus Biopharma in a research note on Wednesday, April 5th.

Arbutus Biopharma Company Profile

(Free Report)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.