Vanguard Group Inc. Reduces Holdings in Vir Biotechnology, Inc. $VIR

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. cut its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP acquired a new position in shares of Vir Biotechnology during the fourth quarter worth approximately $7,961,000. Point72 Asset Management L.P. raised its position in shares of Vir Biotechnology by 16,169.5% during the fourth quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock worth $6,228,000 after purchasing an additional 843,239 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Vir Biotechnology by 58.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock worth $14,059,000 after purchasing an additional 703,360 shares during the period. Millennium Management LLC raised its position in shares of Vir Biotechnology by 55.3% during the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock worth $12,589,000 after purchasing an additional 610,367 shares during the period. Finally, Sphera Funds Management LTD. raised its position in shares of Vir Biotechnology by 523.4% during the fourth quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company's stock worth $4,271,000 after purchasing an additional 488,500 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Vir Biotechnology Stock Performance

NASDAQ:VIR traded down $0.10 during trading on Friday, reaching $4.94. The company's stock had a trading volume of 1,676,623 shares, compared to its average volume of 1,497,433. The firm has a market cap of $686.26 million, a price-to-earnings ratio of -1.24 and a beta of 1.18. The firm has a 50 day moving average of $5.09 and a 200-day moving average of $5.90. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $14.45.

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

Wall Street Analysts Forecast Growth

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

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).