Baker BROS. Advisors LP Makes New Investment in Vir Biotechnology, Inc. (NASDAQ:VIR)

Baker BROS. Advisors LP bought a new position in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,084,539 shares of the company's stock, valued at approximately $7,961,000. Baker BROS. Advisors LP owned approximately 0.79% of Vir Biotechnology as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Vir Biotechnology during the 4th quarter valued at about $60,000. PNC Financial Services Group Inc. increased its holdings 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 valued at $61,000 after acquiring an additional 1,999 shares in the last quarter. KBC Group NV raised its position in shares of Vir Biotechnology by 136.5% in the 4th 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 last quarter. CIBC Asset Management Inc acquired a new stake in Vir Biotechnology in the 4th quarter worth approximately $74,000. Finally, Syon Capital LLC purchased a new stake in Vir Biotechnology during the 4th quarter worth approximately $77,000. 65.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on VIR. Leerink Partners raised their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. HC Wainwright reiterated a "buy" rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, January 9th. Finally, Barclays upped their target price on Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.57.

Vir Biotechnology Price Performance

VIR stock traded down $0.02 during midday trading on Wednesday, hitting $5.61. 1,264,463 shares of the stock traded hands, compared to its average volume of 1,338,351. The firm has a market cap of $774.54 million, a P/E ratio of -1.43 and a beta of 1.36. The stock's fifty day simple moving average is $6.39 and its 200-day simple moving average is $7.96. Vir Biotechnology, Inc. has a 1-year low of $4.95 and a 1-year high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.48) EPS. On average, research analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Activity

In related news, CEO Backer Marianne De sold 79,712 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the completion of the sale, the chief executive officer now owns 769,505 shares of the company's stock, valued at approximately $4,578,554.75. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George A. Scangos sold 10,964 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total transaction of $107,556.84. Following the sale, the director now owns 708,295 shares of the company's stock, valued at $6,948,373.95. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,611 shares of company stock worth $663,525 over the last 90 days. 15.60% of the stock is currently owned by company insiders.

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).