BlackRock Inc. Purchases New Position in Vir Biotechnology, Inc. $VIR

BlackRock Inc. purchased a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,678,283 shares of the company's stock, valued at approximately $210,712,000. BlackRock Inc. owned about 12.26% of Vir Biotechnology at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GSK plc purchased a new stake in shares of Vir Biotechnology in the 4th quarter worth about $51,562,000. State Street Corp increased its position in shares of Vir Biotechnology by 18.9% during the fourth quarter. State Street Corp now owns 6,229,555 shares of the company's stock valued at $37,564,000 after buying an additional 988,262 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Vir Biotechnology during the first quarter valued at about $24,593,000. Dimensional Fund Advisors LP raised its stake in Vir Biotechnology by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,579,678 shares of the company's stock worth $23,107,000 after buying an additional 43,401 shares in the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in Vir Biotechnology by 5.9% in the second quarter. Orbimed Advisors LLC now owns 2,380,715 shares of the company's stock worth $11,999,000 after buying an additional 132,466 shares during the period. 65.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Vir Biotechnology from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Leerink Partners lifted their price target on Vir Biotechnology from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Morgan Stanley set a $25.00 price target on Vir Biotechnology in a research note on Thursday, August 6th. HC Wainwright reissued a "buy" rating on shares of Vir Biotechnology in a research report on Monday, August 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Vir Biotechnology presently has an average rating of "Moderate Buy" and an average target price of $21.57.

Insider Activity at Vir Biotechnology

In related news, Director Janet Napolitano sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $9.45, for a total transaction of $30,240.00. Following the completion of the sale, the director owned 21,216 shares of the company's stock, valued at $200,491.20. This trade represents a 13.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Vir Biotechnology Price Performance

VIR opened at $11.31 on Friday. The firm has a market cap of $1.91 billion, a PE ratio of -6.08 and a beta of 1.66. The stock has a 50-day moving average price of $9.56 and a 200-day moving average price of $9.29. Vir Biotechnology, Inc. has a 1 year low of $4.75 and a 1 year high of $11.66.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. The company had revenue of $238.95 million for the quarter, compared to the consensus estimate of $135.88 million. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 29.99%. Vir Biotechnology's revenue for the quarter was up 19582.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.80) EPS. As a group, sell-side analysts anticipate that Vir Biotechnology, Inc. will post -1.84 EPS for the current year.

Vir Biotechnology Company Profile

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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