57,268 Shares in Vir Biotechnology, Inc. $VIR Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 57,268 shares of the company’s stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VIR. GAMMA Investing LLC grew its holdings in Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company’s stock valued at $46,000 after purchasing an additional 5,972 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in Vir Biotechnology during the second quarter valued at approximately $50,000. PNC Financial Services Group Inc. grew its holdings in Vir Biotechnology by 26.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock valued at $68,000 after purchasing an additional 2,171 shares during the last quarter. FORA Capital LLC acquired a new position in Vir Biotechnology during the first quarter valued at approximately $70,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Vir Biotechnology in the first quarter worth $78,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VIR. Evercore ISI began coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Tuesday, October 14th. Bank of America upgraded shares of Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Vir Biotechnology in a research note on Monday, September 15th. Finally, Raymond James Financial began coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They issued an “outperform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.30.

Vir Biotechnology Stock Performance

Shares of NASDAQ:VIR opened at $5.98 on Monday. Vir Biotechnology, Inc. has a twelve month low of $4.16 and a twelve month high of $14.45. The firm has a market cap of $830.74 million, a PE ratio of -1.50 and a beta of 1.27. The business has a fifty day moving average of $5.32 and a 200-day moving average of $5.29.

Vir Biotechnology (NASDAQ:VIR) last announced its 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). The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The business’s quarterly revenue was down 60.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.02) earnings per share. On average, analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of Vir Biotechnology stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $6.05, for a total transaction of $2,820,764.10. Following the transaction, the insider owned 15,621,369 shares in the company, valued at $94,509,282.45. The trade was a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $5.84, for a total value of $128,480.00. Following the completion of the sale, the director owned 1,232,391 shares in the company, valued at $7,197,163.44. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,038,406 shares of company stock valued at $12,090,468 over the last 90 days. Corporate insiders own 16.00% of the company’s stock.

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).