Rangeley Capital LLC Takes Position in Arbutus Biopharma Co. (NASDAQ:ABUS)

Rangeley Capital LLC acquired a new stake in Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,459,000 shares of the biopharmaceutical company's stock, valued at approximately $4,771,000. Arbutus Biopharma comprises about 4.3% of Rangeley Capital LLC's investment portfolio, making the stock its 6th biggest holding. Rangeley Capital LLC owned about 0.77% of Arbutus Biopharma at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABUS. China Universal Asset Management Co. Ltd. raised its holdings in Arbutus Biopharma by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company's stock worth $131,000 after purchasing an additional 3,870 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Arbutus Biopharma by 6.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company's stock worth $261,000 after buying an additional 5,000 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Arbutus Biopharma by 18.7% in the fourth quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company's stock valued at $138,000 after buying an additional 6,644 shares during the period. JPMorgan Chase & Co. grew its holdings in Arbutus Biopharma by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 89,586 shares of the biopharmaceutical company's stock worth $345,000 after acquiring an additional 8,859 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arbutus Biopharma by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,222,201 shares of the biopharmaceutical company's stock worth $3,997,000 after acquiring an additional 9,955 shares during the period. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Price Performance

Arbutus Biopharma stock traded up $0.03 during trading hours on Tuesday, hitting $3.04. The company had a trading volume of 355,673 shares, compared to its average volume of 983,076. The firm's fifty day moving average is $3.35 and its 200-day moving average is $3.52. The firm has a market capitalization of $581.14 million, a P/E ratio of -7.06 and a beta of 1.45. Arbutus Biopharma Co. has a fifty-two week low of $2.63 and a fifty-two week high of $4.73.

Arbutus Biopharma (NASDAQ:ABUS - Get Free Report) last issued its earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Arbutus Biopharma had a negative return on equity of 68.18% and a negative net margin of 1,137.65%. The firm had revenue of $1.57 million for the quarter, compared to the consensus estimate of $2.20 million. Analysts anticipate that Arbutus Biopharma Co. will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABUS has been the subject of several research reports. Chardan Capital restated a "buy" rating and set a $5.00 price objective on shares of Arbutus Biopharma in a research report on Friday, March 28th. StockNews.com upgraded shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Arbutus Biopharma currently has a consensus rating of "Moderate Buy" and an average target price of $5.50.

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.