Engineers Gate Manager LP Sells 121,964 Shares of Vir Biotechnology, Inc. $VIR

Engineers Gate Manager LP trimmed its stake in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 48.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,427 shares of the company's stock after selling 121,964 shares during the period. Engineers Gate Manager LP owned about 0.08% of Vir Biotechnology worth $1,309,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fiduciary Financial Advisors bought a new position in Vir Biotechnology in the 2nd quarter valued at $29,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Vir Biotechnology during the fourth quarter worth $60,000. Caxton Associates LLP bought a new stake in shares of Vir Biotechnology during the first quarter worth $112,000. Amundi increased its stake in shares of Vir Biotechnology by 52.8% in the first quarter. Amundi now owns 15,315 shares of the company's stock valued at $137,000 after buying an additional 5,294 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Vir Biotechnology by 223.1% in the first quarter. Royal Bank of Canada now owns 15,355 shares of the company's stock valued at $138,000 after buying an additional 10,603 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VIR. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vir Biotechnology in a research note on Wednesday, July 8th. Leerink Partners increased their price target on shares of Vir Biotechnology from $20.00 to $21.00 and gave the company 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 note on Saturday, August 8th. HC Wainwright restated a "buy" rating on shares of Vir Biotechnology in a report on Monday, August 10th. Finally, Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research report on Thursday, August 6th. One 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.57.

Vir Biotechnology Price Performance

VIR stock opened at $10.92 on Friday. The business has a 50-day moving average of $9.86 and a 200-day moving average of $9.60. Vir Biotechnology, Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $11.94. The stock has a market capitalization of $1.85 billion, a P/E ratio of -5.87 and a beta of 1.63.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.14. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 29.99%. The business had revenue of $238.95 million during the quarter, compared to the consensus estimate of $135.88 million. During the same quarter last year, the firm earned ($0.80) earnings per share. The firm's revenue for the quarter was up 19582.5% compared to the same quarter last year. Equities analysts expect 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 focused on developing therapies for serious infectious diseases and cancer. The company uses technologies involving antibodies, T cells, small interfering RNA and other immune-based approaches to discover and develop treatments designed to harness or enhance the body's immune response.

Vir's development programs have included therapies for hepatitis B, influenza, human immunodeficiency virus and other infectious diseases, as well as oncology applications.

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