Arbutus Biopharma (NASDAQ:ABUS) Announces Quarterly Earnings Results

Arbutus Biopharma (NASDAQ:ABUS) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.11), Morningstar.com reports. Arbutus Biopharma had a negative net margin of 1,237.92% and a negative return on equity of 95.26%. The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.88 million.

ABUS stock traded down $0.03 during trading on Tuesday, hitting $1.57. 1,745 shares of the company’s stock traded hands, compared to its average volume of 264,648. Arbutus Biopharma has a 52 week low of $1.42 and a 52 week high of $11.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 12.75 and a quick ratio of 12.75. The firm has a fifty day simple moving average of $2.04. The firm has a market capitalization of $93.23 million, a PE ratio of -1.61 and a beta of 1.87.

ABUS has been the subject of several research reports. ValuEngine upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Chardan Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Tuesday, July 16th. Finally, Zacks Investment Research lowered shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Arbutus Biopharma presently has a consensus rating of “Hold” and a consensus target price of $5.88.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in Arbutus Biopharma by 1.2% during the first quarter. Bank of Montreal Can now owns 979,124 shares of the biopharmaceutical company’s stock valued at $3,505,000 after purchasing an additional 11,520 shares during the last quarter. Norges Bank purchased a new stake in shares of Arbutus Biopharma in the fourth quarter valued at $1,416,000. Geode Capital Management LLC raised its stake in shares of Arbutus Biopharma by 27.7% in the fourth quarter. Geode Capital Management LLC now owns 235,932 shares of the biopharmaceutical company’s stock valued at $903,000 after acquiring an additional 51,127 shares during the period. Bailard Inc. raised its stake in shares of Arbutus Biopharma by 5.6% in the first quarter. Bailard Inc. now owns 228,000 shares of the biopharmaceutical company’s stock valued at $816,000 after acquiring an additional 12,000 shares during the period. Finally, Alps Advisors Inc. raised its stake in shares of Arbutus Biopharma by 4.7% in the first quarter. Alps Advisors Inc. now owns 134,053 shares of the biopharmaceutical company’s stock valued at $480,000 after acquiring an additional 6,016 shares during the period. Institutional investors and hedge funds own 41.37% of the company’s stock.

About Arbutus Biopharma

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

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Earnings History for Arbutus Biopharma (NASDAQ:ABUS)

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