358,575 Shares in Vir Biotechnology, Inc. $VIR Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a stake in Vir Biotechnology, purchasing 358,575 shares valued at approximately $2.32 million, indicating institutional interest in the company.
• Insider dealings include Mark Eisner, EVP, selling 6,796 shares and Vicki L. Sato, Director, selling 22,000 shares, reflecting a shift in ownership among executives.
• Analysts have a consensus rating of Moderate Buy for Vir Biotechnology, with price targets ranging from $12 to $14, showing optimism despite the company’s recent earnings miss.

Nuveen LLC bought a new position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 358,575 shares of the company's stock, valued at approximately $2,324,000. Nuveen LLC owned 0.26% of Vir Biotechnology at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VIR. Aigen Investment Management LP bought a new stake in shares of Vir Biotechnology in the first quarter valued at $111,000. Invesco Ltd. raised its stake in Vir Biotechnology by 1.7% in the 1st quarter. Invesco Ltd. now owns 405,580 shares of the company's stock valued at $2,628,000 after acquiring an additional 6,808 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Vir Biotechnology by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,290 shares of the company's stock valued at $248,000 after acquiring an additional 3,209 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Vir Biotechnology by 9.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,374,874 shares of the company's stock valued at $8,909,000 after acquiring an additional 122,219 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Vir Biotechnology by 26.2% in the first 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 period. Institutional investors own 65.32% of the company's stock.

Vir Biotechnology Stock Up 1.2%

Shares of VIR stock traded up $0.06 during trading on Tuesday, hitting $5.00. The company had a trading volume of 1,321,884 shares, compared to its average volume of 1,591,093. The stock's 50-day moving average is $5.09 and its two-hundred day moving average is $5.82. The stock has a market capitalization of $694.60 million, a price-to-earnings ratio of -1.25 and a beta of 1.28. Vir Biotechnology, Inc. has a 52 week low of $4.16 and a 52 week high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $2.38 million. During the same period in the prior year, the company earned ($1.02) EPS. The firm's revenue was down 60.5% compared to the same quarter last year. On average, research analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction on Friday, August 1st. The shares were sold at an average price of $4.99, for a total value of $109,780.00. Following the sale, the director owned 1,276,391 shares in the company, valued at $6,369,191.09. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Eisner sold 6,796 shares of Vir Biotechnology stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total transaction of $37,174.12. Following the sale, the executive vice president directly owned 108,204 shares in the company, valued at $591,875.88. The trade was a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,382 shares of company stock worth $278,770. 16.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on VIR. Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and boosted their target price for the company from $12.00 to $14.00 in a report on Wednesday, August 27th. Raymond James Financial initiated coverage on Vir Biotechnology in a research note on Friday, July 11th. They set an "outperform" rating on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.44.

Vir Biotechnology Company 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).