Rhumbline Advisers Reduces Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Rhumbline Advisers lessened its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 226,649 shares of the company’s stock after selling 10,032 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Vir Biotechnology worth $1,469,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Vir Biotechnology by 3,945.6% during the first quarter. GAMMA Investing LLC now owns 46,079 shares of the company’s stock valued at $299,000 after purchasing an additional 44,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Vir Biotechnology by 29.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,325 shares of the company’s stock valued at $1,331,000 after purchasing an additional 40,954 shares during the period. Woodline Partners LP purchased a new stake in shares of Vir Biotechnology during the fourth quarter valued at approximately $991,000. Two Sigma Advisers LP boosted its stake in shares of Vir Biotechnology by 74.8% during the fourth quarter. Two Sigma Advisers LP now owns 74,800 shares of the company’s stock valued at $549,000 after purchasing an additional 32,000 shares during the period. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Vir Biotechnology during the fourth quarter valued at approximately $1,205,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Stock Up 2.2%

Shares of Vir Biotechnology stock opened at $5.21 on Thursday. The company has a market cap of $720.23 million, a PE ratio of -1.23 and a beta of 1.24. The business has a 50 day moving average of $5.31 and a 200 day moving average of $7.31. 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.05). The business had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. Vir Biotechnology had a negative net margin of 2,769.04% and a negative return on equity of 47.46%. Vir Biotechnology’s revenue was down 94.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.48) EPS. On average, research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Vir Biotechnology news, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total value of $474,286.40. Following the completion of the transaction, the chief executive officer now owns 769,505 shares in the company, valued at approximately $4,578,554.75. This represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is owned by corporate insiders.

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).