Clarius Group LLC Purchases 560,342 Shares of Vir Biotechnology, Inc. $VIR

Key Points

• Clarius Group LLC significantly increased its stake in Vir Biotechnology, acquiring 560,342 shares during Q2, raising its ownership to 617,535 shares valued at approximately $3.1 million.
• Vir Biotechnology reported a negative EPS of ($0.80) for the last quarter, falling short of the expected ($0.72) EPS, while also experiencing a 60.5% decline in revenue year-over-year.
• Institutional investors hold 65.32% of Vir Biotechnology's stock, reflecting heightened interest from hedge funds with several increasing their positions in recent months.

Clarius Group LLC raised its position in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 979.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 617,535 shares of the company's stock after buying an additional 560,342 shares during the period. Clarius Group LLC owned 0.45% of Vir Biotechnology worth $3,112,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VIR. GAMMA Investing LLC boosted its holdings in shares of Vir Biotechnology by 524.3% in the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after acquiring an additional 5,972 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Vir Biotechnology by 26.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock valued at $68,000 after purchasing an additional 2,171 shares during the last quarter. FORA Capital LLC acquired a new position in Vir Biotechnology in the first quarter worth $70,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Vir Biotechnology during the first quarter worth $78,000. Finally, Cerity Partners LLC acquired a new stake in shares of Vir Biotechnology in the first quarter valued at $97,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Price Performance

Shares of NASDAQ VIR opened at $5.73 on Friday. Vir Biotechnology, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $14.45. The firm has a market capitalization of $796.01 million, a P/E ratio of -1.43 and a beta of 1.27. The company's 50 day simple moving average is $4.99 and its 200 day simple moving average is $5.33.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The business had revenue of $1.21 million for the quarter, compared to the consensus estimate of $2.38 million. During the same quarter in the previous year, the firm posted ($1.02) EPS. The business's revenue was down 60.5% on a year-over-year basis. Sell-side analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VIR has been the topic of several research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Vir Biotechnology in a research report on Saturday, September 27th. Evercore ISI started coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 target price for the company. Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and increased their price target for the company from $12.00 to $14.00 in a research note on Wednesday, August 27th. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of Vir Biotechnology in a report on Monday, September 15th. Finally, Raymond James Financial started coverage on Vir Biotechnology in a report on Friday, July 11th. They set an "outperform" rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.30.

Insider Activity

In related news, EVP Mark Eisner sold 6,796 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total value of $37,174.12. Following the sale, the executive vice president directly owned 108,204 shares in the company, valued at $591,875.88. This trade represents a 5.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $5.84, for a total transaction of $128,480.00. Following the transaction, the director directly owned 1,232,391 shares in the company, valued at $7,197,163.44. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,382 shares of company stock worth $404,830 in the last three months. Insiders own 16.00% of the company's stock.

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).

Want to see what other hedge funds are holding VIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.