Charles Schwab Investment Management Inc. Increases Holdings in Vir Biotechnology, Inc. $VIR

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Vir Biotechnology by 9.8% in Q1, owning over 1.37 million shares valued at approximately $8.91 million.
• Insider selling occurred recently, with EVP Mark Eisner and Director Vicki L. Sato reducing their shareholdings, indicating potential concerns about the company's performance.
• Vir Biotechnology reported a quarterly net loss and revenue decline, missing earnings and revenue estimates, with a significant drop in year-over-year performance.

Charles Schwab Investment Management Inc. grew its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,374,874 shares of the company's stock after purchasing an additional 122,219 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.00% of Vir Biotechnology worth $8,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Vir Biotechnology during the 1st quarter worth $78,000. GAMMA Investing LLC grew its position in shares of Vir Biotechnology by 524.3% in the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after buying an additional 5,972 shares during the last quarter. First Trust Advisors LP purchased a new position in Vir Biotechnology during the 4th quarter worth approximately $93,000. Millennium Management LLC raised its position in Vir Biotechnology by 55.3% in the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock valued at $12,589,000 after purchasing an additional 610,367 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Vir Biotechnology by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 71,332 shares of the company's stock worth $524,000 after buying an additional 3,506 shares during the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology 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 sale, the director owned 1,298,391 shares in the company, valued at $6,621,794.10. The trade was a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 value of $37,174.12. Following the transaction, the executive vice president directly owned 108,204 shares in the company, valued at approximately $591,875.88. The trade was a 5.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,582 shares of company stock worth $294,930 in the last 90 days. 16.00% of the stock is owned by company insiders.

Vir Biotechnology Trading Down 3.6%

Vir Biotechnology stock traded down $0.19 during mid-day trading on Thursday, hitting $5.04. The stock had a trading volume of 2,152,707 shares, compared to its average volume of 1,436,352. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $14.45. The stock has a market capitalization of $700.16 million, a PE ratio of -1.26 and a beta of 1.18. The stock has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $5.93.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VIR shares. Bank of America upgraded shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and increased their price target for the company from $12.00 to $14.00 in a report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 target price on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Finally, Raymond James Financial assumed coverage on shares of Vir Biotechnology in a research report on Friday, July 11th. They issued an "outperform" rating for the company. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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).