Nuveen Asset Management LLC Sells 162,291 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Nuveen Asset Management LLC trimmed its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 31.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 359,572 shares of the company's stock after selling 162,291 shares during the period. Nuveen Asset Management LLC owned 0.26% of Vir Biotechnology worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Vir Biotechnology during the 4th quarter worth approximately $60,000. PNC Financial Services Group Inc. boosted its holdings in shares of Vir Biotechnology by 31.8% during the fourth 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 during the last quarter. KBC Group NV raised its position in shares of Vir Biotechnology by 136.5% in the 4th quarter. KBC Group NV now owns 8,970 shares of the company's stock worth $66,000 after buying an additional 5,177 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Vir Biotechnology in the 4th quarter worth $74,000. Finally, Syon Capital LLC purchased a new position in Vir Biotechnology in the fourth quarter valued at about $77,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Insider Activity

In other Vir Biotechnology news, CEO Backer Marianne De sold 79,712 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the transaction, the chief executive officer now directly owns 769,505 shares of the company's stock, valued at approximately $4,578,554.75. This trade represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on VIR. The Goldman Sachs Group decreased their price target on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th. Barclays lifted their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.86.

Vir Biotechnology Trading Up 1.0%

NASDAQ VIR traded up $0.05 during trading on Wednesday, reaching $5.28. The company's stock had a trading volume of 990,956 shares, compared to its average volume of 1,399,127. The firm has a 50 day moving average price of $5.44 and a 200 day moving average price of $7.47. The firm has a market capitalization of $729.90 million, a price-to-earnings ratio of -1.35 and a beta of 1.36. Vir Biotechnology, Inc. has a 12 month low of $4.32 and a 12 month high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $3.03 million for the quarter, compared to analyst estimates of $8.59 million. During the same quarter in the prior year, the company earned ($0.48) earnings per share. Vir Biotechnology's revenue for the quarter was down 94.6% compared to the same quarter last year. On average, equities analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

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).