Public Employees Retirement System of Ohio Acquires Shares of 112,700 Vir Biotechnology, Inc. $VIR

Key Points

• Public Employees Retirement System of Ohio acquired 112,700 shares of Vir Biotechnology valued at approximately $1.01 million, giving it a 0.07% stake. Institutional investors collectively own 65.32% of the company.
• Analyst sentiment remains generally positive, with an average rating of “Moderate Buy” and a consensus price target of $20.88, despite some sell ratings.
• Vir Biotechnology’s shares opened at $8.90, while the company reported a significantly wider-than-expected quarterly loss of $0.85 per share and negligible revenue.

Public Employees Retirement System of Ohio bought a new position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 112,700 shares of the company's stock, valued at approximately $1,010,000. Public Employees Retirement System of Ohio owned about 0.07% of Vir Biotechnology as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Candriam S.C.A. grew its stake in shares of Vir Biotechnology by 10.1% in the first quarter. Candriam S.C.A. now owns 1,135,763 shares of the company's stock valued at $10,176,000 after acquiring an additional 104,100 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Vir Biotechnology by 10,878.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company's stock valued at $13,268,000 after purchasing an additional 1,467,340 shares during the period. UBS Group AG grew its position in shares of Vir Biotechnology by 94.6% during the 4th quarter. UBS Group AG now owns 417,965 shares of the company's stock worth $2,520,000 after purchasing an additional 203,203 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Vir Biotechnology during the 1st quarter worth approximately $1,013,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Vir Biotechnology during the first quarter worth approximately $1,443,000. Institutional investors own 65.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Vir Biotechnology from $23.00 to $27.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. Leerink Partners upped their target price on Vir Biotechnology from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen lowered Vir Biotechnology from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.88.

Vir Biotechnology Price Performance

Shares of NASDAQ:VIR opened at $8.90 on Tuesday. The company's 50 day simple moving average is $9.33 and its 200 day simple moving average is $8.99. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -2.84 and a beta of 1.66. Vir Biotechnology, Inc. has a 1 year low of $4.16 and a 1 year high of $11.66.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.84). The firm had revenue of ($0.03) million for the quarter, compared to analyst estimates of $55.49 million. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 53.31%. During the same quarter in the prior year, the firm earned ($0.88) earnings per share. As a group, analysts anticipate that Vir Biotechnology, Inc. will post -1.81 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In related news, Director Janet Napolitano sold 3,200 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $9.45, for a total transaction of $30,240.00. Following the completion of the sale, the director directly owned 21,216 shares in the company, valued at $200,491.20. This represents a 13.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company's stock.

Vir Biotechnology Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company's pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.

Want to see what other hedge funds are holding VIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source