Premier Path Wealth Partners LLC Acquires 8,300 Shares of Arbutus Biopharma Co. (NASDAQ:ABUS)

Premier Path Wealth Partners LLC lifted its holdings in shares of Arbutus Biopharma Co. (NASDAQ:ABUS) by 37.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,500 shares of the biopharmaceutical company’s stock after purchasing an additional 8,300 shares during the period. Premier Path Wealth Partners LLC’s holdings in Arbutus Biopharma were worth $79,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. PFG Investments LLC purchased a new stake in Arbutus Biopharma during the 1st quarter valued at $50,000. Cowen AND Company LLC purchased a new stake in Arbutus Biopharma during the 4th quarter valued at $125,000. BNP Paribas Financial Markets boosted its position in Arbutus Biopharma by 20.5% during the 4th quarter. BNP Paribas Financial Markets now owns 292,045 shares of the biopharmaceutical company’s stock valued at $730,000 after buying an additional 49,745 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Arbutus Biopharma by 351.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 15,104 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its position in Arbutus Biopharma by 5.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 139,261 shares of the biopharmaceutical company’s stock valued at $348,000 after buying an additional 7,500 shares during the period. Hedge funds and other institutional investors own 43.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ABUS. HC Wainwright dropped their target price on shares of Arbutus Biopharma from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, March 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research report on Thursday, April 4th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of Arbutus Biopharma in a research report on Friday, May 3rd.

Arbutus Biopharma Price Performance

NASDAQ ABUS traded up $0.20 during trading hours on Wednesday, reaching $3.41. 2,174,903 shares of the company’s stock traded hands, compared to its average volume of 1,159,744. Arbutus Biopharma Co. has a 52-week low of $1.69 and a 52-week high of $3.43. The firm has a market cap of $643.54 million, a PE ratio of -7.75 and a beta of 2.05. The firm has a 50-day simple moving average of $2.79 and a 200 day simple moving average of $2.51.

Arbutus Biopharma (NASDAQ:ABUS) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $2.15 million during the quarter, compared to analysts’ expectations of $4.74 million. Arbutus Biopharma had a negative net margin of 572.81% and a negative return on equity of 62.68%. During the same period last year, the company posted ($0.14) EPS. Sell-side analysts forecast that Arbutus Biopharma Co. will post -0.39 EPS for the current fiscal 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.