Goldman Sachs Group Inc. Boosts Holdings in Vir Biotechnology, Inc. $VIR

Key Points

• Goldman Sachs Group Inc. increased its stake in Vir Biotechnology by 43.6%, acquiring an additional 225,544 shares during the first quarter, bringing its total ownership to 742,674 shares valued at approximately $4.81 million.
• Director Vicki L. Sato sold 22,000 shares of company stock at an average price of $4.99, decreasing her ownership stake by 1.72% to 1,254,391 shares.
• Analysts remain optimistic about Vir Biotechnology, with nine equities research analysts rating the stock as a "Buy" and a consensus price target of $17.30.

Goldman Sachs Group Inc. grew its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 43.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,674 shares of the company's stock after buying an additional 225,544 shares during the quarter. Goldman Sachs Group Inc. owned 0.54% of Vir Biotechnology worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Vir Biotechnology by 26.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock valued at $68,000 after buying an additional 2,171 shares during the period. Focus Partners Wealth raised its holdings in Vir Biotechnology by 15.3% in the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company's stock worth $125,000 after purchasing an additional 2,566 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Vir Biotechnology by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,290 shares of the company's stock worth $248,000 after purchasing an additional 3,209 shares during the period. Captrust Financial Advisors raised its holdings in Vir Biotechnology by 29.6% in the 4th quarter. Captrust Financial Advisors now owns 20,503 shares of the company's stock worth $150,000 after purchasing an additional 4,683 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Vir Biotechnology by 524.3% in the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after purchasing an additional 5,972 shares during the period. 65.32% of the stock is owned by institutional investors.

Vir Biotechnology Stock Performance

VIR remained flat at $5.18 on Friday. The company had a trading volume of 2,280,735 shares, compared to its average volume of 1,498,661. The firm has a market cap of $719.61 million, a P/E ratio of -1.30 and a beta of 1.28. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $14.45. The company's 50-day moving average is $5.01 and its two-hundred day moving average is $5.48.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The company had revenue of $1.21 million during the quarter, compared to analysts' expectations 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 company's revenue was down 60.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.02) EPS. On average, sell-side analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, EVP Mark Eisner sold 6,796 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was 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 in the company, valued at $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $112,200.00. Following the sale, the director directly owned 1,298,391 shares of the company's stock, valued at $6,621,794.10. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,382 shares of company stock valued at $388,550 in the last 90 days. Company insiders own 16.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of Vir Biotechnology in a report on Monday, September 15th. Raymond James Financial started coverage on Vir Biotechnology in a report on Friday, July 11th. They set an "outperform" rating on the stock. Bank of America raised Vir Biotechnology from a "neutral" rating to a "buy" rating and raised their price target for the company from $12.00 to $14.00 in a report on Wednesday, August 27th. Finally, Evercore ISI started coverage on Vir Biotechnology in a report on Wednesday, September 3rd. They set an "outperform" rating and a $12.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Vir Biotechnology currently has a consensus rating of "Moderate Buy" and an average target price of $17.30.

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).