Bank of America Corp DE Has $1.42 Million Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Bank of America Corp DE cut its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 42.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,650 shares of the company's stock after selling 142,943 shares during the period. Bank of America Corp DE owned approximately 0.14% of Vir Biotechnology worth $1,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VIR. SBI Securities Co. Ltd. acquired a new stake in Vir Biotechnology during the 4th quarter valued at $60,000. PNC Financial Services Group Inc. increased its stake in Vir Biotechnology by 31.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock valued at $61,000 after buying an additional 1,999 shares during the period. KBC Group NV lifted its position in Vir Biotechnology by 136.5% in the 4th quarter. KBC Group NV now owns 8,970 shares of the company's stock worth $66,000 after buying an additional 5,177 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Vir Biotechnology during the 4th quarter valued at $74,000. Finally, Syon Capital LLC acquired a new stake in shares of Vir Biotechnology during the 4th quarter valued at $77,000. 65.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several 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 report on Thursday, May 22nd. The Goldman Sachs Group cut their price target on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. HC Wainwright reissued a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, February 28th. Finally, Barclays raised their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.86.

Insider Buying and Selling at Vir Biotechnology

In other news, CEO Backer Marianne De sold 79,712 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the completion of the transaction, the chief executive officer now directly owns 769,505 shares in the company, valued at $4,578,554.75. The trade was a 9.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.00% of the company's stock.

Vir Biotechnology Trading Down 0.4%

Vir Biotechnology stock traded down $0.02 during trading hours on Monday, reaching $5.43. 1,079,845 shares of the company were exchanged, compared to its average volume of 1,386,392. Vir Biotechnology, Inc. has a 12 month low of $4.32 and a 12 month high of $14.45. The stock has a 50-day moving average of $5.37 and a 200 day moving average of $7.44. The firm has a market cap of $750.63 million, a price-to-earnings ratio of -1.39 and a beta of 1.24.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.05). The firm had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Vir Biotechnology's quarterly revenue was down 94.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) earnings per share. As a group, research analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current 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).