Allianz Asset Management GmbH Raises Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Allianz Asset Management GmbH raised its position in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 79.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,700 shares of the company's stock after buying an additional 136,751 shares during the quarter. Allianz Asset Management GmbH owned about 0.22% of Vir Biotechnology worth $2,000,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vir Biotechnology during the 4th quarter valued at $42,000. GAMMA Investing LLC raised its stake in shares of Vir Biotechnology by 524.3% during the 1st 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 period. Syon Capital LLC bought a new stake in shares of Vir Biotechnology during the 4th quarter valued at $77,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Vir Biotechnology during the 1st quarter valued at $78,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Vir Biotechnology during the 4th quarter valued at $84,000. 65.32% of the stock is currently owned by institutional investors.

Insider Transactions at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $6,621,794.10. This represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,582 shares of company stock valued at $185,150 over the last quarter. Company insiders own 16.00% of the company's stock.

Vir Biotechnology Price Performance

Vir Biotechnology stock traded down $0.04 during midday trading on Friday, hitting $5.03. 809,884 shares of the company's stock were exchanged, compared to its average volume of 1,084,500. Vir Biotechnology, Inc. has a 52-week low of $4.32 and a 52-week high of $14.45. The stock has a 50-day moving average price of $5.29 and a two-hundred day moving average price of $6.70.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The business had revenue of $3.03 million for the quarter, compared to analysts' expectations of $8.59 million. During the same quarter in the previous year, the firm earned ($0.48) earnings per share. Vir Biotechnology's quarterly revenue was down 94.6% compared to the same quarter last year. On average, research analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd. The Goldman Sachs Group reduced their target price on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Raymond James Financial began coverage on Vir Biotechnology in a research report on Friday, July 11th. They set an "outperform" rating for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.25.

About Vir Biotechnology

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).