Stonepine Capital Management LLC Takes Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Stonepine Capital Management LLC bought a new position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 164,106 shares of the company's stock, valued at approximately $1,205,000. Vir Biotechnology makes up about 1.0% of Stonepine Capital Management LLC's holdings, making the stock its 26th biggest position. Stonepine Capital Management LLC owned about 0.12% of Vir Biotechnology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vir Biotechnology in the fourth quarter valued at approximately $42,000. SBI Securities Co. Ltd. acquired a new position in Vir Biotechnology in the 4th quarter valued at $60,000. PNC Financial Services Group Inc. lifted its position in shares of Vir Biotechnology by 31.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock valued at $61,000 after acquiring an additional 1,999 shares during the period. KBC Group NV grew its holdings in shares of Vir Biotechnology by 136.5% during the 4th quarter. KBC Group NV now owns 8,970 shares of the company's stock worth $66,000 after purchasing an additional 5,177 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Vir Biotechnology in the fourth quarter worth $74,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Vir Biotechnology news, 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 completion of the transaction, the executive vice president now directly owns 79,460 shares in the company, valued at approximately $726,264.40. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Backer Marianne De sold 79,712 shares of Vir Biotechnology stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the sale, the chief executive officer now directly owns 769,505 shares in the company, valued at $4,578,554.75. The trade was a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.60% of the company's stock.

Vir Biotechnology Trading Down 5.1%

NASDAQ VIR traded down $0.24 during trading on Friday, hitting $4.38. 211,622 shares of the company's stock were exchanged, compared to its average volume of 1,784,922. The company has a market cap of $604.79 million, a PE ratio of -1.12 and a beta of 1.36. Vir Biotechnology, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $14.45. The stock's 50 day moving average price is $5.77 and its two-hundred day moving average price is $7.73.

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). The company 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%. Vir Biotechnology's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.48) earnings per share. Analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share 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).