Franklin Resources Inc. Invests $301,000 in Arbutus Biopharma Co. (NASDAQ:ABUS)

Franklin Resources Inc. acquired a new position in shares of Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 92,159 shares of the biopharmaceutical company's stock, valued at approximately $301,000.

Several other hedge funds have also modified their holdings of ABUS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Arbutus Biopharma in the 3rd quarter worth about $754,000. State Street Corp raised its holdings in Arbutus Biopharma by 50.2% in the third quarter. State Street Corp now owns 4,407,133 shares of the biopharmaceutical company's stock valued at $16,967,000 after buying an additional 1,472,652 shares during the period. XTX Topco Ltd lifted its position in Arbutus Biopharma by 76.2% during the third quarter. XTX Topco Ltd now owns 30,013 shares of the biopharmaceutical company's stock valued at $116,000 after buying an additional 12,975 shares in the last quarter. Barclays PLC lifted its position in Arbutus Biopharma by 466.3% during the third quarter. Barclays PLC now owns 272,029 shares of the biopharmaceutical company's stock valued at $1,047,000 after buying an additional 223,995 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Arbutus Biopharma by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,448,600 shares of the biopharmaceutical company's stock worth $13,280,000 after buying an additional 135,442 shares during the period. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Price Performance

ABUS traded up $0.04 on Thursday, reaching $3.28. The company's stock had a trading volume of 178,698 shares, compared to its average volume of 983,307. Arbutus Biopharma Co. has a 1 year low of $2.63 and a 1 year high of $4.73. The business's 50 day moving average is $3.28 and its 200 day moving average is $3.45. The stock has a market cap of $627.10 million, a price-to-earnings ratio of -7.62 and a beta of 1.45.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last released 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. The business had revenue of $1.57 million during the quarter, compared to the consensus estimate of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. As a group, research analysts forecast that Arbutus Biopharma Co. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research note on Tuesday, January 21st. Finally, Chardan Capital reiterated a "buy" rating and issued a $5.00 target price on shares of Arbutus Biopharma in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $5.50.

About Arbutus Biopharma

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.