Point72 Asset Management L.P. Raises Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Point72 Asset Management L.P. lifted its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 16,169.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 848,454 shares of the company's stock after buying an additional 843,239 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.62% of Vir Biotechnology worth $6,228,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in Vir Biotechnology by 33.0% during the 4th quarter. State of Alaska Department of Revenue now owns 202,441 shares of the company's stock worth $1,485,000 after purchasing an additional 50,199 shares during the period. Rhumbline Advisers boosted its position in Vir Biotechnology by 0.5% during the 4th quarter. Rhumbline Advisers now owns 236,681 shares of the company's stock valued at $1,737,000 after acquiring an additional 1,288 shares in the last quarter. abrdn plc bought a new stake in Vir Biotechnology during the 4th quarter valued at $2,666,000. SBI Securities Co. Ltd. bought a new stake in Vir Biotechnology during the 4th quarter valued at $60,000. Finally, First Trust Advisors LP bought a new stake in Vir Biotechnology during the 4th quarter valued at $93,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on VIR shares. The Goldman Sachs Group dropped their target price on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Barclays increased their target price on Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, February 28th. Finally, Needham & Company LLC lowered their price objective on Vir Biotechnology from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.86.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $4.64 on Tuesday. The stock has a market capitalization of $641.42 million, a price-to-earnings ratio of -1.18 and a beta of 1.36. Vir Biotechnology, Inc. has a 1-year low of $4.32 and a 1-year high of $14.45. The business has a fifty day moving average price of $5.92 and a 200-day moving average price of $7.81.

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

Insider Buying and Selling at Vir Biotechnology

In other news, CEO Backer Marianne De sold 79,712 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total value of $474,286.40. Following the completion of the transaction, the chief executive officer now owns 769,505 shares of the company's stock, valued at $4,578,554.75. The trade was a 9.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Verneuil Vanina De sold 7,373 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total value of $67,389.22. Following the completion of the transaction, the executive vice president now directly owns 79,460 shares of the company's stock, valued at approximately $726,264.40. This trade represents a 8.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.60% 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).

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