Tejara Capital Ltd Increases Stake in Vir Biotechnology, Inc. $VIR

Key Points

• Tejara Capital Ltd significantly increased its stake in Vir Biotechnology by 342.0%, owning 229,672 shares worth approximately $1.49 million after purchasing an additional 177,705 shares in the first quarter.
• Vir Biotechnology reported a disappointing earnings loss of ($0.80) per share, missing analysts' expectations, with revenue declining by 60.5% year-over-year to $1.21 million.
• Despite recent struggles, analysts have a consensus "Moderate Buy" rating on Vir Biotechnology with a target price of $30.25, suggesting potential for future growth.

Tejara Capital Ltd boosted its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 342.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,672 shares of the company's stock after acquiring an additional 177,705 shares during the quarter. Tejara Capital Ltd owned about 0.17% of Vir Biotechnology worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in VIR. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vir Biotechnology in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC lifted its stake 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 worth $46,000 after purchasing an additional 5,972 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Vir Biotechnology by 26.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock worth $68,000 after acquiring an additional 2,171 shares in the last quarter. Syon Capital LLC acquired a new position in shares of Vir Biotechnology in the fourth quarter worth about $77,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Vir Biotechnology during the first quarter valued at approximately $78,000. 65.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VIR has been the topic of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Raymond James Financial started coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They issued an "outperform" rating for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Vir Biotechnology currently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Insider Activity at Vir Biotechnology

In other news, EVP Mark Eisner sold 6,796 shares of the firm's stock in a transaction 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 approximately $591,875.88. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the director owned 1,298,391 shares of the company's stock, valued at $6,621,794.10. The trade was a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 57,582 shares of company stock valued at $294,930. 16.00% of the stock is owned by insiders.

Vir Biotechnology Stock Up 1.8%

Shares of VIR stock traded up $0.08 on Friday, reaching $4.52. The stock had a trading volume of 1,017,544 shares, compared to its average volume of 1,014,806. The firm's 50-day moving average is $5.22 and its two-hundred day moving average is $6.21. The firm has a market capitalization of $627.92 million, a price-to-earnings ratio of -1.13 and a beta of 1.18. 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 earnings results 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 for the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%. The business's revenue for the quarter was down 60.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.02) EPS. On average, sell-side analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Vir Biotechnology Company 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).