Bank of New York Mellon Corp Purchases 13,824 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Bank of New York Mellon Corp raised its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 1.7% in the second quarter, HoldingsChannel reports. The firm owned 836,992 shares of the company’s stock after buying an additional 13,824 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vir Biotechnology were worth $20,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in VIR. Signaturefd LLC grew its position in shares of Vir Biotechnology by 1,313.0% during the first quarter. Signaturefd LLC now owns 1,300 shares of the company’s stock worth $30,000 after purchasing an additional 1,208 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Vir Biotechnology by 33.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock valued at $42,000 after buying an additional 456 shares during the last quarter. Tucker Asset Management LLC purchased a new position in shares of Vir Biotechnology in the first quarter worth $46,000. Captrust Financial Advisors boosted its position in shares of Vir Biotechnology by 1,270.7% during the second quarter. Captrust Financial Advisors now owns 1,823 shares of the company’s stock worth $46,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Vir Biotechnology by 97.4% during the first quarter. Fifth Third Bancorp now owns 2,169 shares of the company’s stock valued at $50,000 after acquiring an additional 1,070 shares in the last quarter. Hedge funds and other institutional investors own 67.05% of the company’s stock.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $8.79 on Monday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -1.96 and a beta of 0.31. Vir Biotechnology, Inc. has a 1-year low of $7.72 and a 1-year high of $31.55. The company’s 50-day moving average is $9.17 and its 200 day moving average is $16.79.

Wall Street Analyst Weigh In

VIR has been the subject of several research reports. HC Wainwright dropped their price objective on shares of Vir Biotechnology from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, August 7th. Needham & Company LLC reduced their price objective on Vir Biotechnology from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. The Goldman Sachs Group decreased their price objective on Vir Biotechnology from $51.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Bank of America lowered shares of Vir Biotechnology from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $14.00 in a report on Friday, September 8th. Finally, Barclays lowered their price objective on shares of Vir Biotechnology from $59.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.33.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus.