Cinctive Capital Management LP Takes $547,000 Position in Vir Biotechnology, Inc. $VIR

Key Points

• Cinctive Capital Management LP purchased 84,398 shares of Vir Biotechnology, Inc., valued at approximately $547,000, representing about 0.06% ownership as of their latest SEC filing.
• Vir Biotechnology reported a loss of $0.80 per share for the last quarter, missing the consensus estimate, with a revenue decline of 60.5% year over year.
• The company has an average analyst rating of "Moderate Buy" with a target price of $26.80, indicating potential for growth as multiple research firms have issued positive ratings.

Cinctive Capital Management LP purchased a new position in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 84,398 shares of the company's stock, valued at approximately $547,000. Cinctive Capital Management LP owned 0.06% of Vir Biotechnology at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its stake in shares of Vir Biotechnology by 16,169.5% in the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock valued at $6,228,000 after buying an additional 843,239 shares during the period. Dimensional Fund Advisors LP grew its stake in Vir Biotechnology by 58.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock valued at $14,059,000 after acquiring an additional 703,360 shares during the period. Millennium Management LLC grew its stake in Vir Biotechnology by 55.3% in the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock valued at $12,589,000 after acquiring an additional 610,367 shares during the period. Sphera Funds Management LTD. increased its holdings in shares of Vir Biotechnology by 523.4% during the fourth quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company's stock valued at $4,271,000 after acquiring an additional 488,500 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Vir Biotechnology during the first quarter worth approximately $2,324,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Price Performance

Shares of VIR stock traded up $0.05 on Tuesday, hitting $5.24. The stock had a trading volume of 736,121 shares, compared to its average volume of 1,586,546. The business has a 50 day moving average of $5.09 and a 200 day moving average of $5.66. The stock has a market cap of $727.94 million, a price-to-earnings ratio of -1.31 and a beta of 1.28. Vir Biotechnology, Inc. has a 12-month low of $4.16 and a 12-month high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The firm had revenue of $1.21 million for the quarter, compared to analysts' expectations of $2.38 million. During the same quarter last year, the firm posted ($1.02) earnings per share. The firm's revenue for the quarter was down 60.5% compared to the same quarter last year. As a group, research analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and lifted their price target for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Raymond James Financial began coverage on shares of Vir Biotechnology in a report on Friday, July 11th. They set an "outperform" rating for the company. Finally, Evercore ISI assumed coverage on shares of Vir Biotechnology in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $12.00 target price for the company. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.80.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 1,298,391 shares of the company's stock, valued at $6,621,794.10. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Eisner sold 6,796 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total value of $37,174.12. Following the sale, the executive vice president directly owned 108,204 shares of the company's stock, valued at $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,382 shares of company stock worth $388,550 in the last 90 days. Company 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).