Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,772 shares of the company’s stock after selling 3,705 shares during the period. Corebridge Financial Inc.’s holdings in Vir Biotechnology were worth $351,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Vir Biotechnology in the 4th quarter valued at $60,000. PNC Financial Services Group Inc. raised its holdings in shares of Vir Biotechnology by 31.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock valued at $61,000 after buying an additional 1,999 shares during the last quarter. KBC Group NV boosted its stake in shares of Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after buying an additional 5,177 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Vir Biotechnology during the fourth quarter worth about $74,000. Finally, Virtu Financial LLC acquired a new position in Vir Biotechnology in the 4th quarter valued at about $94,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

Insider Activity at Vir Biotechnology

In related news, EVP Verneuil Vanina De sold 7,373 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares of the company’s stock, valued at approximately $726,264.40. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George A. Scangos sold 10,964 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total value of $107,556.84. Following the sale, the director now owns 708,295 shares in the company, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,611 shares of company stock valued at $663,525. Insiders own 15.60% of the company’s stock.

Vir Biotechnology Trading Up 10.2 %

Shares of Vir Biotechnology stock opened at $5.72 on Thursday. The company has a 50-day moving average of $7.86 and a two-hundred day moving average of $8.21. The stock has a market cap of $784.46 million, a PE ratio of -1.46 and a beta of 1.14. Vir Biotechnology, Inc. has a 12-month low of $4.95 and a 12-month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $12.37 million for the quarter, compared to the consensus estimate of $8.14 million. On average, sell-side analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VIR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. HC Wainwright restated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th. Leerink Partners lifted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Vir Biotechnology Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).