Millennium Management LLC Purchases 610,367 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Millennium Management LLC raised its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,715,083 shares of the company's stock after purchasing an additional 610,367 shares during the period. Millennium Management LLC owned 1.25% of Vir Biotechnology worth $12,589,000 as of its most recent filing with the Securities and Exchange Commission.

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

Vir Biotechnology Price Performance

Vir Biotechnology stock traded up $0.16 during mid-day trading on Tuesday, hitting $4.66. 1,485,309 shares of the company's stock traded hands, compared to its average volume of 1,384,389. The firm has a 50 day simple moving average of $5.67 and a two-hundred day simple moving average of $7.63. Vir Biotechnology, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $14.45. The stock has a market cap of $644.19 million, a price-to-earnings ratio of -1.19 and a beta of 1.36.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings results 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). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $3.03 million for the quarter, compared to analyst estimates of $8.59 million. During the same period in the prior year, the business earned ($0.48) EPS. The company's revenue for the quarter was down 94.6% compared to the same quarter last year. On average, research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VIR has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a research report on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, February 28th. The Goldman Sachs Group cut their price objective on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Barclays increased their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.86.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, EVP Verneuil Vanina De sold 7,373 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares in the company, valued at $726,264.40. This trade represents a 8.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total value of $474,286.40. Following the transaction, the chief executive officer now owns 769,505 shares in the company, valued at $4,578,554.75. The trade was a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.00% of the company's stock.

About Vir Biotechnology

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).