Public Sector Pension Investment Board Purchases 63,284 Shares of Vir Biotechnology, Inc. $VIR

Key Points

• The Public Sector Pension Investment Board increased its stake in Vir Biotechnology by 27.6%, holding approximately 292,578 shares valued at $1.9 million.
• Vir Biotechnology reported a quarterly loss of ($0.80) per share, missing estimates and experiencing a 60.5% decline in revenue year-over-year.
• Analyst ratings for Vir Biotechnology show a consensus of "Moderate Buy", with seven analysts rating it a Buy and one a Hold, alongside an average price target of $30.25.

Public Sector Pension Investment Board grew its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 292,578 shares of the company's stock after acquiring an additional 63,284 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Vir Biotechnology worth $1,896,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vir Biotechnology during the 4th quarter worth approximately $42,000. GAMMA Investing LLC boosted its position in Vir Biotechnology by 524.3% during the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after acquiring an additional 5,972 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Vir Biotechnology by 26.2% during the 1st 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 during the last quarter. Syon Capital LLC acquired a new position in Vir Biotechnology during the 4th quarter worth approximately $77,000. Finally, Nebula Research & Development LLC acquired a new position in Vir Biotechnology during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Stock Performance

VIR traded up $0.06 during trading hours on Tuesday, reaching $4.44. The company's stock had a trading volume of 1,137,526 shares, compared to its average volume of 1,088,270. Vir Biotechnology, Inc. has a 52 week low of $4.16 and a 52 week high of $14.45. The company's 50-day moving average is $5.10 and its 200-day moving average is $5.96. The firm has a market cap of $616.80 million, a PE ratio of -1.11 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $2.38 million. During the same quarter last year, the company posted ($1.02) EPS. The firm's revenue was down 60.5% on a year-over-year basis. Equities analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VIR has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Raymond James Financial initiated coverage on Vir Biotechnology in a research note on Friday, July 11th. They set an "outperform" rating on the stock. Seven equities research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $30.25.

Insiders Place Their Bets

In related news, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $4.99, for a total value of $109,780.00. Following the sale, the director owned 1,276,391 shares in the company, valued at approximately $6,369,191.09. This represents a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Eisner sold 6,796 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 108,204 shares in the company, valued at approximately $591,875.88. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,582 shares of company stock worth $294,930. 16.00% of the stock is owned by company insiders.

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).