Nordea Investment Management AB Boosts Stock Position in Vir Biotechnology, Inc. $VIR

Nordea Investment Management AB grew its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 403.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 704,377 shares of the company's stock after buying an additional 564,537 shares during the quarter. Nordea Investment Management AB owned 0.51% of Vir Biotechnology worth $3,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VIR. GAMMA Investing LLC increased its position in shares of Vir Biotechnology by 524.3% in the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after buying an additional 5,972 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Vir Biotechnology in the first quarter valued at approximately $78,000. Principal Financial Group Inc. increased its position in shares of Vir Biotechnology by 2.7% during the first quarter. Principal Financial Group Inc. now owns 459,337 shares of the company's stock worth $2,977,000 after purchasing an additional 12,024 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Vir Biotechnology during the first quarter worth approximately $97,000. Finally, CWM LLC increased its position in shares of Vir Biotechnology by 1,160.2% during the first quarter. CWM LLC now owns 17,554 shares of the company's stock worth $114,000 after purchasing an additional 16,161 shares in the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $5.84, for a total value of $128,480.00. Following the transaction, the director owned 1,232,391 shares of the company's stock, valued at $7,197,163.44. This represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of the company's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $6.05, for a total value of $2,820,764.10. Following the completion of the transaction, the insider directly owned 15,621,369 shares in the company, valued at approximately $94,509,282.45. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,409,547 shares of company stock worth $8,220,208. Corporate insiders own 16.00% of the company's stock.

Vir Biotechnology Stock Performance

NASDAQ VIR opened at $6.27 on Wednesday. The stock's fifty day moving average is $5.24 and its two-hundred day moving average is $5.28. The firm has a market capitalization of $871.03 million, a P/E ratio of -1.57 and a beta of 1.27. Vir Biotechnology, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). The company had revenue of $1.21 million for the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The business's quarterly revenue was down 60.5% on a year-over-year basis. During the same period last year, the firm posted ($1.02) EPS. As a group, sell-side analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analyst Upgrades and Downgrades

VIR has been the subject of several research reports. Evercore ISI initiated coverage on Vir Biotechnology in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $12.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Vir Biotechnology in a research report on Monday, September 15th. Raymond James Financial initiated coverage on Vir Biotechnology in a research report on Friday, July 11th. They set an "outperform" rating for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vir Biotechnology in a research report on Tuesday, October 14th. Finally, Bank of America upgraded Vir Biotechnology from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.30.

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).

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