Victory Capital Management Inc. Has $1.12 Million Stock Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Key Points

• Victory Capital Management Inc. significantly increased its stake in Vir Biotechnology, Inc. by 94.7%, owning approximately 172,853 shares valued at $1.12 million as of the latest SEC filing.
• Insider activity includes sales by Mark Eisner and Vicki L. Sato, with total sales amounting to over $149,000, reflecting a decrease in their respective ownership stakes.
• Analysts have mixed views on Vir Biotechnology, with Goldman Sachs lowering their target price from $28 to $21, while others, including Needham & Company LLC, maintain a "buy" rating with a price objective of $14.

Victory Capital Management Inc. raised its stake in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 94.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,853 shares of the company's stock after acquiring an additional 84,077 shares during the period. Victory Capital Management Inc. owned 0.13% of Vir Biotechnology worth $1,120,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vir Biotechnology during the 4th quarter valued at $42,000. GAMMA Investing LLC raised its stake in Vir Biotechnology by 524.3% during the 1st 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 during the period. Syon Capital LLC acquired a new stake in Vir Biotechnology during the 4th quarter valued at $77,000. Nebula Research & Development LLC acquired a new stake in Vir Biotechnology during the 4th quarter valued at $84,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Vir Biotechnology during the 1st quarter valued at $78,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Stock Down 0.8%

VIR stock traded down $0.04 during mid-day trading on Friday, reaching $5.03. 809,884 shares of the stock traded hands, compared to its average volume of 1,084,500. Vir Biotechnology, Inc. has a 52 week low of $4.32 and a 52 week high of $14.45. The firm has a market capitalization of $695.35 million, a PE ratio of -1.19 and a beta of 1.18. The business has a 50-day moving average of $5.30 and a two-hundred day moving average of $6.64.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The firm had revenue of $3.03 million during the quarter, compared to the consensus estimate of $8.59 million. During the same period last year, the business earned ($0.48) earnings per share. The firm's revenue for the quarter was down 94.6% compared to the same quarter last year. On average, equities research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 approximately $6,621,794.10. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Eisner sold 6,796 shares of Vir Biotechnology stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total transaction 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. In the last ninety days, insiders have sold 35,582 shares of company stock valued at $185,150. Company insiders own 16.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VIR. Raymond James Financial began coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They issued an "outperform" rating on the stock. The Goldman Sachs Group dropped their price target on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Vir Biotechnology in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.25.

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).