Principal Financial Group Inc. Acquires 12,024 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Principal Financial Group Inc. increased its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 459,337 shares of the company’s stock after purchasing an additional 12,024 shares during the quarter. Principal Financial Group Inc. owned 0.33% of Vir Biotechnology worth $2,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Tennessee Department of Treasury lifted its holdings in Vir Biotechnology by 3.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company’s stock valued at $288,000 after acquiring an additional 1,227 shares during the period. PNC Financial Services Group Inc. grew 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 in the last quarter. Teacher Retirement System of Texas grew its holdings in Vir Biotechnology by 10.7% during the 4th quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company’s stock valued at $194,000 after buying an additional 2,556 shares in the last quarter. Invesco Ltd. grew its holdings in Vir Biotechnology by 0.6% during the 4th quarter. Invesco Ltd. now owns 398,772 shares of the company’s stock valued at $2,927,000 after buying an additional 2,574 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Vir Biotechnology by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,332 shares of the company’s stock valued at $524,000 after buying an additional 3,506 shares in the last quarter. 65.32% of the stock is owned by institutional investors.

Vir Biotechnology Trading Down 1.5%

Shares of NASDAQ:VIR opened at $5.41 on Friday. Vir Biotechnology, Inc. has a 12-month low of $4.32 and a 12-month high of $14.45. The business’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $6.95. The company has a market capitalization of $747.88 million, a PE ratio of -1.28 and a beta of 1.22.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The business had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $8.59 million. During the same quarter last year, the firm earned ($0.48) earnings per share. The firm’s quarterly revenue was down 94.6% compared to the same quarter last year. Research analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price objective on Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Raymond James Financial began coverage on Vir Biotechnology in a research report on Friday, July 11th. They set an “outperform” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Vir Biotechnology in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.25.

Insider Buying and Selling at Vir Biotechnology

In related news, EVP Mark Eisner sold 6,796 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total transaction of $37,174.12. Following the transaction, the executive vice president directly owned 108,204 shares in the company, valued at $591,875.88. The trade was a 5.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total value of $112,200.00. Following the transaction, the director owned 1,298,391 shares in the company, valued at approximately $6,621,794.10. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,582 shares of company stock worth $185,150. 16.00% of the stock is owned by company 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).