Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 74.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,128 shares of the company's stock after selling 151,313 shares during the period. State of Alaska Department of Revenue's holdings in Vir Biotechnology were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Baker BROS. Advisors LP purchased a new stake in Vir Biotechnology in the 4th quarter worth $7,961,000. Artisan Partners Limited Partnership acquired a new stake in shares of Vir Biotechnology in the fourth quarter valued at about $6,742,000. Point72 Asset Management L.P. increased its stake 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 in the last quarter. Dimensional Fund Advisors LP increased its stake 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 in the last quarter. Finally, Millennium Management LLC raised its position in shares of Vir Biotechnology by 55.3% during the 4th 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 last quarter. Hedge funds and other institutional investors own 65.32% of the company's stock.

Analysts Set New Price Targets

VIR has been the topic of several recent research reports. The Goldman Sachs Group lowered their target price 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. 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, May 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.86.

Vir Biotechnology Trading Down 2.6%

Shares of NASDAQ:VIR opened at $5.17 on Monday. Vir Biotechnology, Inc. has a 12-month low of $4.32 and a 12-month high of $14.45. The stock's 50-day moving average price is $5.27 and its two-hundred day moving average price is $7.15. The firm has a market cap of $714.70 million, a price-to-earnings ratio of -1.23 and a beta of 1.24.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced 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 net margin of 2,769.04% and a negative return on equity of 47.46%. The company had revenue of $3.03 million for the quarter, compared to analysts' expectations of $8.59 million. During the same quarter in the previous year, the business posted ($0.48) earnings per share. The business's quarterly revenue was down 94.6% compared to the same quarter last year. As a group, research analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In related news, CEO Backer Marianne De sold 79,712 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the completion of the transaction, the chief executive officer now directly owns 769,505 shares in the company, valued at $4,578,554.75. This represents a 9.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.00% of the company's stock.

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).

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