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

State of Alaska Department of Revenue lowered its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 74.7% in the first quarter, according to its most recent 13F filing with the 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 SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in Vir Biotechnology by 0.5% during the fourth quarter. Rhumbline Advisers now owns 236,681 shares of the company's stock valued at $1,737,000 after acquiring an additional 1,288 shares in the last quarter. Principal Financial Group Inc. increased its stake in Vir Biotechnology by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 447,313 shares of the company's stock valued at $3,283,000 after acquiring an additional 15,902 shares during the last quarter. New York State Common Retirement Fund raised its position in Vir Biotechnology by 163.8% during the fourth quarter. New York State Common Retirement Fund now owns 64,906 shares of the company's stock valued at $476,000 after purchasing an additional 40,300 shares in the last quarter. Alta Partners Management Company L.P. bought a new stake in Vir Biotechnology during the fourth quarter worth about $3,593,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Vir Biotechnology in the 4th quarter worth about $60,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Vir Biotechnology Price Performance

Shares of VIR traded up $0.06 during trading hours on Thursday, hitting $5.49. The stock had a trading volume of 395,002 shares, compared to its average volume of 1,675,830. The firm has a market capitalization of $758.94 million, a PE ratio of -1.30 and a beta of 1.22. Vir Biotechnology, Inc. has a 12 month low of $4.32 and a 12 month high of $14.45. The stock has a fifty day moving average price of $5.23 and a 200 day moving average price of $7.11.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.03 million during the quarter, compared to analysts' expectations of $8.59 million. During the same period in the previous year, the business posted ($0.48) EPS. The business's quarterly revenue was down 94.6% compared to the same quarter last year. As a group, analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.86.

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $6,621,794.10. This represents a 1.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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).