Vir Biotechnology, Inc. $VIR Shares Bought by Public Sector Pension Investment Board

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 raised its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 27.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.21% of Vir Biotechnology worth $1,896,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vir Biotechnology in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC boosted its position in shares of Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after buying an additional 5,972 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Vir Biotechnology by 26.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock worth $68,000 after buying an additional 2,171 shares during the period. Syon Capital LLC purchased a new position in shares of Vir Biotechnology during the fourth quarter worth $77,000. Finally, Nebula Research & Development LLC purchased a new position in shares of Vir Biotechnology during the fourth quarter worth $84,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $4.36 on Thursday. Vir Biotechnology, Inc. has a 1-year low of $4.16 and a 1-year high of $14.45. The stock has a market cap of $605.69 million, a PE ratio of -1.09 and a beta of 1.18. The stock's fifty day moving average is $5.16 and its two-hundred day moving average is $6.14.

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 analyst estimates of $2.38 million. During the same quarter in the prior year, the business earned ($1.02) earnings per share. The firm's quarterly revenue was down 60.5% on a year-over-year basis. On average, research analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vir Biotechnology news, Director Vicki L. Sato sold 22,000 shares of the firm's 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 directly owned 1,276,391 shares in the company, valued at $6,369,191.09. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Eisner sold 6,796 shares of the firm's 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 represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,582 shares of company stock worth $294,930. 16.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VIR has been the topic of several analyst reports. Raymond James Financial initiated coverage on Vir Biotechnology in a research note on Friday, July 11th. They issued an "outperform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of "Moderate Buy" and an average price target of $30.25.

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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