Point72 Asset Management L.P. Has $6.23 Million Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Point72 Asset Management L.P. grew its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 16,169.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 848,454 shares of the company's stock after purchasing an additional 843,239 shares during the quarter. Point72 Asset Management L.P. owned about 0.62% of Vir Biotechnology worth $6,228,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of VIR. Barclays PLC boosted its holdings in Vir Biotechnology by 1.3% in the third quarter. Barclays PLC now owns 550,186 shares of the company's stock valued at $4,121,000 after acquiring an additional 7,287 shares during the last quarter. KBC Group NV boosted its holdings in Vir Biotechnology by 136.5% in the fourth quarter. KBC Group NV now owns 8,970 shares of the company's stock valued at $66,000 after acquiring an additional 5,177 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Vir Biotechnology by 11.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 29,202 shares of the company's stock valued at $214,000 after acquiring an additional 2,922 shares during the last quarter. abrdn plc bought a new position in Vir Biotechnology in the fourth quarter valued at about $2,666,000. Finally, State of Alaska Department of Revenue boosted its holdings in Vir Biotechnology by 33.0% in the fourth quarter. State of Alaska Department of Revenue now owns 202,441 shares of the company's stock valued at $1,485,000 after acquiring an additional 50,199 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock traded down $0.11 during trading hours on Friday, hitting $4.50. The company's stock had a trading volume of 1,383,910 shares, compared to its average volume of 1,383,983. Vir Biotechnology, Inc. has a 12 month low of $4.32 and a 12 month high of $14.45. The stock has a 50 day moving average of $5.72 and a 200 day moving average of $7.66. The company has a market capitalization of $622.07 million, a PE ratio of -1.15 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 return on equity of 36.71% and a negative net margin of 678.40%. The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $8.59 million. During the same quarter last year, the company earned ($0.48) earnings per share. The firm's revenue was down 94.6% compared to the same quarter last year. Equities analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analyst Upgrades and Downgrades

VIR has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a report on Thursday. Barclays increased their target price on Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, February 28th. Finally, The Goldman Sachs Group cut their target price on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.86.

Insiders Place Their Bets

In related news, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the completion of the transaction, the chief executive officer now directly owns 769,505 shares in the company, 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 can be accessed through this hyperlink. Also, EVP Verneuil Vanina De sold 7,373 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total value of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares of the company's stock, valued at approximately $726,264.40. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.00% of the company's stock.

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).