Two Sigma Investments LP Reduces Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Two Sigma Investments LP decreased its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,876 shares of the company’s stock after selling 30,148 shares during the period. Two Sigma Investments LP owned approximately 0.18% of Vir Biotechnology worth $1,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vir Biotechnology during the 4th quarter valued at $42,000. SBI Securities Co. Ltd. purchased a new stake in Vir Biotechnology in the fourth quarter worth $60,000. PNC Financial Services Group Inc. lifted its position in shares of Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock worth $61,000 after purchasing 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 valued at $66,000 after purchasing an additional 5,177 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of Vir Biotechnology during the fourth quarter valued at $74,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VIR shares. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Finally, Barclays raised their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Insider Buying and Selling

In other news, CEO Backer Marianne De sold 79,712 shares of Vir Biotechnology stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the transaction, the chief executive officer now owns 769,505 shares of the company’s stock, valued at $4,578,554.75. The trade was a 9.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.00% of the stock is currently owned by company insiders.

Vir Biotechnology Stock Performance

NASDAQ VIR opened at $5.07 on Tuesday. The company has a market cap of $700.87 million, a PE ratio of -1.29 and a beta of 1.36. The firm’s 50 day moving average price is $5.47 and its 200-day moving average price is $7.48. Vir Biotechnology, Inc. has a 52-week low of $4.32 and a 52-week high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. During the same period last year, the business posted ($0.48) EPS. The firm’s revenue was down 94.6% compared to the same quarter last year. On average, analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Vir Biotechnology Company 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).