PNC Financial Services Group Inc. Acquires 1,869 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

PNC Financial Services Group Inc. boosted its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIRFree Report) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,186 shares of the company’s stock after purchasing an additional 1,869 shares during the period. PNC Financial Services Group Inc.’s holdings in Vir Biotechnology were worth $113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Vir Biotechnology by 6.0% in the 4th quarter. Arizona State Retirement System now owns 26,271 shares of the company’s stock worth $264,000 after purchasing an additional 1,476 shares during the last quarter. Ballentine Partners LLC raised its position in Vir Biotechnology by 18.0% in the 4th quarter. Ballentine Partners LLC now owns 12,544 shares of the company’s stock worth $126,000 after purchasing an additional 1,915 shares during the last quarter. Quadrant Capital Group LLC raised its position in Vir Biotechnology by 274.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock worth $30,000 after purchasing an additional 2,177 shares during the last quarter. Signaturefd LLC raised its position in Vir Biotechnology by 258.5% in the 4th quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock worth $33,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Vir Biotechnology in the 4th quarter worth approximately $69,000. Institutional investors own 65.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VIR shares. Needham & Company LLC boosted their price objective on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Morgan Stanley lifted their target price on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. lifted their target price on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

Check Out Our Latest Report on VIR

Insider Activity

In related news, Director Saira Ramasastry sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total value of $43,800.00. Following the sale, the director now directly owns 14,619 shares of the company’s stock, valued at approximately $160,078.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.60% of the stock is owned by company insiders.

Vir Biotechnology Stock Down 2.6 %

Shares of VIR stock opened at $8.53 on Friday. Vir Biotechnology, Inc. has a 12-month low of $7.61 and a 12-month high of $24.46. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.13 and a beta of 0.48. The firm has a fifty day moving average of $9.84 and a 200-day moving average of $9.86.

Vir Biotechnology (NASDAQ:VIRGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The company had revenue of $56.38 million during the quarter, compared to analyst estimates of $11.71 million. During the same quarter in the previous year, the business earned ($1.06) EPS. The firm’s revenue was down 10.5% on a year-over-year basis. Research analysts expect that Vir Biotechnology, Inc. will post -3.57 earnings per share for the current year.

Vir Biotechnology Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Vir Biotechnology (NASDAQ:VIR)

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