Bank of New York Mellon Corp bought a new stake in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 694,374 shares of the company's stock, valued at approximately $7,076,000. Bank of New York Mellon Corp owned about 0.41% of Vir Biotechnology at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GSK plc acquired a new position in shares of Vir Biotechnology in the 4th quarter valued at $51,562,000. ADAR1 Capital Management LLC acquired a new stake in Vir Biotechnology in the first quarter valued at about $24,593,000. Pictet Asset Management Holding SA boosted its stake in shares of Vir Biotechnology by 10,878.9% in the first quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company's stock valued at $13,268,000 after buying an additional 1,467,340 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Vir Biotechnology during the 4th quarter worth $8,252,000. Finally, State Street Corp boosted its holdings in Vir Biotechnology by 18.9% during the fourth quarter. State Street Corp now owns 6,229,555 shares of the company's stock worth $37,564,000 after buying an additional 988,262 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on VIR. Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research report on Thursday, August 6th. HC Wainwright reaffirmed a "buy" rating on shares of Vir Biotechnology in a research note on Monday, August 10th. Leerink Partners increased their target price on Vir Biotechnology from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. Wall Street Zen raised shares of Vir Biotechnology from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Vir Biotechnology in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.57.
View Our Latest Stock Report on VIR
Vir Biotechnology Stock Down 0.4%
Shares of NASDAQ:VIR opened at $11.45 on Friday. The firm has a 50-day simple moving average of $9.71 and a 200 day simple moving average of $9.43. The company has a market cap of $1.94 billion, a PE ratio of -6.16 and a beta of 1.63. Vir Biotechnology, Inc. has a fifty-two week low of $4.75 and a fifty-two week high of $11.94.
Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.14. Vir Biotechnology had a negative return on equity of 29.99% and a negative net margin of 638.88%.The company had revenue of $238.95 million for the quarter, compared to analysts' expectations of $135.88 million. During the same period last year, the business posted ($0.80) earnings per share. The firm's quarterly revenue was up 19582.5% compared to the same quarter last year. As a group, research analysts forecast that Vir Biotechnology, Inc. will post -1.84 EPS for the current fiscal year.
Vir Biotechnology Profile
(
Free Report)
Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.
The company's pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.
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