Maryland State Retirement & Pension System Sells 3,323 Shares of Vir Biotechnology, Inc. $VIR

Maryland State Retirement & Pension System trimmed its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 10.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,700 shares of the company’s stock after selling 3,323 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Vir Biotechnology were worth $179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of VIR. Charles Schwab Investment Management Inc. lifted its stake in Vir Biotechnology by 9.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,374,874 shares of the company’s stock worth $8,909,000 after purchasing an additional 122,219 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Vir Biotechnology by 26.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock worth $68,000 after buying an additional 2,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Vir Biotechnology by 37.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,991 shares of the company’s stock valued at $266,000 after buying an additional 11,112 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Vir Biotechnology in the 1st quarter worth approximately $169,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Vir Biotechnology by 79.5% during the 1st quarter. Allianz Asset Management GmbH now owns 308,700 shares of the company’s stock worth $2,000,000 after acquiring an additional 136,751 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VIR has been the subject of a number of research reports. Raymond James Financial initiated coverage on Vir Biotechnology in a research report on Friday, July 11th. They set an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.25.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $4.36 on Wednesday. The business has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $6.15. The stock has a market capitalization of $605.69 million, a PE ratio of -1.09 and a beta of 1.18. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $2.38 million. During the same period in the prior year, the business posted ($1.02) earnings per share. The company’s quarterly revenue was down 60.5% compared to the same quarter last year. On average, equities research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Insider Transactions at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction on Friday, August 1st. The stock was sold at an average price of $4.99, for a total transaction of $109,780.00. Following the transaction, the director owned 1,276,391 shares in the company, valued at $6,369,191.09. The trade was a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Eisner sold 6,796 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were 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 approximately $591,875.88. The trade was a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,582 shares of company stock valued at $294,930. 16.00% of the stock is owned by 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).