Cinctive Capital Management LP Makes New Investment 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 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 84,398 shares of the company's stock, valued at approximately $547,000. Cinctive Capital Management LP owned approximately 0.06% of Vir Biotechnology at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. increased its stake in Vir Biotechnology by 16,169.5% during the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock worth $6,228,000 after purchasing an additional 843,239 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 buying an additional 703,360 shares in the last quarter. Millennium Management LLC lifted 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 buying an additional 610,367 shares in the last quarter. Sphera Funds Management LTD. boosted its holdings in shares of Vir Biotechnology by 523.4% in the fourth quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company's stock valued at $4,271,000 after buying an additional 488,500 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Vir Biotechnology during the first quarter worth $2,324,000. Institutional investors own 65.32% of the company's stock.

Insider Buying and Selling

In other Vir Biotechnology news, EVP Mark Eisner sold 6,796 shares of the business's stock in a transaction that occurred 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 owned 108,204 shares of the company's stock, valued at $591,875.88. The trade was a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $5.10, for a total value of $112,200.00. Following the completion of the sale, the director directly owned 1,298,391 shares of the company's stock, valued at approximately $6,621,794.10. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,382 shares of company stock valued at $388,550. Corporate insiders own 16.00% of the company's stock.

Analyst Upgrades and Downgrades

VIR has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of Vir Biotechnology in a report on Wednesday, September 3rd. They set an "outperform" rating and a $12.00 price objective on the stock. Raymond James Financial assumed coverage on Vir Biotechnology in a research note on Friday, July 11th. They issued an "outperform" rating on the stock. Bank of America upgraded Vir Biotechnology from a "neutral" rating to a "buy" rating and boosted their price target for the company from $12.00 to $14.00 in a report on Wednesday, August 27th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Vir Biotechnology in a report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.80.

Vir Biotechnology Price Performance

NASDAQ:VIR traded up $0.10 on Thursday, hitting $5.23. 945,220 shares of the company's stock were exchanged, compared to its average volume of 1,494,575. The firm has a 50-day moving average price of $5.08 and a 200-day moving average price of $5.62. Vir Biotechnology, Inc. has a 52 week low of $4.16 and a 52 week high of $14.45. The company has a market cap of $726.55 million, a P/E ratio of -1.31 and a beta of 1.28.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $2.38 million. Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. Vir Biotechnology's revenue was down 60.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.02) EPS. On average, research analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

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).