Allianz Asset Management GmbH Buys 136,751 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Allianz Asset Management GmbH increased its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 79.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 308,700 shares of the company's stock after purchasing an additional 136,751 shares during the period. Allianz Asset Management GmbH owned 0.22% of Vir Biotechnology worth $2,000,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in Vir Biotechnology by 94.7% during the 1st quarter. Victory Capital Management Inc. now owns 172,853 shares of the company's stock worth $1,120,000 after purchasing an additional 84,077 shares in the last quarter. CWM LLC raised its holdings in shares of Vir Biotechnology by 1,160.2% in the 1st quarter. CWM LLC now owns 17,554 shares of the company's stock valued at $114,000 after acquiring an additional 16,161 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Vir Biotechnology in the 1st quarter valued at about $97,000. Principal Financial Group Inc. raised its holdings in shares of Vir Biotechnology by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 459,337 shares of the company's stock valued at $2,977,000 after buying an additional 12,024 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Vir Biotechnology during the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 65.32% of the company's stock.

Insider Buying and Selling at Vir Biotechnology

In other news, EVP Mark Eisner sold 6,796 shares of the business's stock in a transaction on 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 in the company, valued at $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. 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 business's stock in a transaction 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 owned 1,298,391 shares of the company's stock, valued at $6,621,794.10. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,582 shares of company stock valued at $185,150 in the last 90 days. Company insiders own 16.00% of the company's stock.

Vir Biotechnology Trading Down 0.8%

NASDAQ:VIR traded down $0.04 during trading hours on Friday, reaching $5.03. 809,884 shares of the company traded hands, compared to its average volume of 1,084,500. The business's 50-day moving average price is $5.30 and its two-hundred day moving average price is $6.64. The stock has a market capitalization of $695.35 million, a P/E ratio of -1.19 and a beta of 1.18. Vir Biotechnology, Inc. has a 1 year low of $4.32 and a 1 year high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data 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 2,769.04% and a negative return on equity of 47.46%. The company 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 posted ($0.48) EPS. The firm's quarterly revenue was down 94.6% compared to the same quarter last year. As a group, equities analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VIR. Raymond James Financial began 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. Finally, The Goldman Sachs Group reduced their price target on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.25.

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).