Allspring Global Investments Holdings LLC Decreases Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Allspring Global Investments Holdings LLC reduced its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 36.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,824 shares of the company’s stock after selling 3,333 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vir Biotechnology were worth $59,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VIR. International Assets Investment Management LLC purchased a new position in shares of Vir Biotechnology in the 4th quarter worth approximately $1,800,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Vir Biotechnology by 268.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,902 shares of the company’s stock worth $2,142,000 after buying an additional 155,196 shares during the last quarter. Arizona State Retirement System boosted its stake in Vir Biotechnology by 6.0% during the fourth quarter. Arizona State Retirement System now owns 26,271 shares of the company’s stock worth $264,000 after buying an additional 1,476 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Vir Biotechnology by 351.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,560 shares of the company’s stock valued at $157,000 after acquiring an additional 12,112 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Vir Biotechnology by 18.0% in the fourth quarter. Ballentine Partners LLC now owns 12,544 shares of the company’s stock valued at $126,000 after acquiring an additional 1,915 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Price Performance

Shares of VIR opened at $8.37 on Tuesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -1.82 and a beta of 0.41. Vir Biotechnology, Inc. has a 1-year low of $7.61 and a 1-year high of $27.48. The company has a 50-day moving average of $9.90 and a 200 day moving average of $9.59.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Thursday, February 22nd. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.28. The business had revenue of $16.80 million for the quarter, compared to analyst estimates of $11.18 million. Vir Biotechnology had a negative net margin of 713.69% and a negative return on equity of 34.92%. The company’s quarterly revenue was down 66.0% compared to the same quarter last year. During the same period last year, the company posted ($0.76) earnings per share. On average, equities analysts anticipate that Vir Biotechnology, Inc. will post -4.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on Vir Biotechnology from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average price target of $34.38.

Insider Buying and Selling at Vir Biotechnology

In other news, EVP Phillip Pang sold 3,321 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.24, for a total transaction of $34,007.04. Following the transaction, the executive vice president now owns 264,679 shares of the company’s stock, valued at approximately $2,710,312.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Phillip Pang sold 3,321 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the completion of the sale, the executive vice president now owns 264,679 shares in the company, valued at approximately $2,710,312.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann M. Hanly sold 12,296 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $10.05, for a total transaction of $123,574.80. Following the transaction, the executive vice president now owns 134,780 shares in the company, valued at $1,354,539. The disclosure for this sale can be found here. Insiders sold a total of 152,831 shares of company stock valued at $1,525,844 in the last ninety days. Corporate insiders own 15.60% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.