Vir Biotechnology, Inc. $VIR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Vir Biotechnology by 2.5%, selling 323,127 shares, and now holds approximately 9.28% of the company's stock, valued at $82.99 million.
• Several large investors have increased their positions in Vir Biotechnology, with Point72 Asset Management raising its stake by a significant 16,169.5%.
• Analyst ratings for Vir Biotechnology are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $30.25, despite the company reporting a wider-than-expected loss in its recent quarterly earnings.

Vanguard Group Inc. trimmed its stake in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,807,508 shares of the company's stock after selling 323,127 shares during the quarter. Vanguard Group Inc. owned 9.28% of Vir Biotechnology worth $82,993,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vir Biotechnology during the fourth quarter valued at $42,000. GAMMA Investing LLC lifted its holdings in shares of Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after purchasing an additional 5,972 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Vir Biotechnology by 26.2% during 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 in the last quarter. Syon Capital LLC bought a new position in shares of Vir Biotechnology during the fourth quarter valued at $77,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Vir Biotechnology during the first quarter valued at $78,000. 65.32% of the stock is owned by institutional investors.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 22,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total transaction of $112,200.00. Following the transaction, the director directly owned 1,298,391 shares in the company, valued at $6,621,794.10. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Eisner sold 6,796 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total value of $37,174.12. Following the transaction, the executive vice president owned 108,204 shares in the company, valued at $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,582 shares of company stock worth $294,930 over the last 90 days. 16.00% of the stock is currently owned by company insiders.

Vir Biotechnology Trading Down 3.5%

Shares of NASDAQ VIR traded down $0.19 during midday trading on Thursday, hitting $5.05. The company's stock had a trading volume of 1,510,806 shares, compared to its average volume of 1,587,832. The business's 50 day moving average is $5.10 and its two-hundred day moving average is $5.96. Vir Biotechnology, Inc. has a 12-month low of $4.16 and a 12-month high of $14.45. The firm has a market cap of $700.85 million, a P/E ratio of -1.26 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The business had revenue of $1.21 million during the quarter, compared to analysts' expectations of $2.38 million. During the same quarter in the previous year, the company posted ($1.02) earnings per share. The company's quarterly revenue was down 60.5% compared to the same quarter last year. On average, analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Vir Biotechnology 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).