ADAR1 Capital Management LLC Acquires 185,933 Shares of Vir Biotechnology, Inc. $VIR

Key Points

• ADAR1 Capital Management LLC increased its stake in Vir Biotechnology by 290.2%, acquiring an additional 185,933 shares, bringing its total holdings to 250,000 shares valued at approximately $1.62 million.
• In a recent quarter, Vir Biotechnology reported a loss of ($0.80) earnings per share, missing analysts' estimates and showing a 60.5% decline in revenue compared to the previous year.
• Bank of America upgraded Vir Biotechnology from a "neutral" to a "buy" rating, increasing the target price for the stock from $12.00 to $14.00.

ADAR1 Capital Management LLC lifted its position in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 290.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,000 shares of the company's stock after acquiring an additional 185,933 shares during the quarter. ADAR1 Capital Management LLC owned 0.18% of Vir Biotechnology worth $1,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VIR. Marshall Wace LLP acquired a new position in shares of Vir Biotechnology in the 4th quarter valued at about $173,000. First Trust Advisors LP bought a new position in Vir Biotechnology in the 4th quarter worth about $93,000. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 703,360 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Vir Biotechnology by 9.4% during the fourth quarter. MetLife Investment Management LLC now owns 55,493 shares of the company's stock valued at $407,000 after buying an additional 4,758 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its position in shares of Vir Biotechnology by 3.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company's stock worth $288,000 after buying an additional 1,227 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Price Performance

NASDAQ VIR traded up $0.13 on Friday, hitting $5.27. 1,021,099 shares of the company were exchanged, compared to its average volume of 1,585,917. Vir Biotechnology, Inc. has a twelve month low of $4.16 and a twelve month high of $14.45. The company's 50 day moving average price is $5.09 and its 200-day moving average price is $5.72. The firm has a market capitalization of $732.09 million, a P/E ratio of -1.32 and a beta of 1.28.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.38 million. During the same period in the prior year, the business posted ($1.02) EPS. The company's revenue for the quarter was down 60.5% on a year-over-year basis. As a group, equities analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insiders Place Their Bets

In other Vir Biotechnology news, EVP Mark Eisner sold 6,796 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total value of $37,174.12. Following the transaction, the executive vice president directly owned 108,204 shares of the company's stock, valued at $591,875.88. This represents a 5.91% decrease in their position. The sale 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 stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $4.99, for a total value of $109,780.00. Following the completion of the transaction, the director owned 1,254,391 shares in the company, valued at $6,259,411.09. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,382 shares of company stock valued at $388,550 in the last three months. Company insiders own 16.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

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).