Vir Biotechnology, Inc. $VIR Stock Holdings Increased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA dramatically increased its stake in Vir Biotechnology by 10,878.9% in the first quarter, ending with 1.48 million shares valued at about $13.3 million.
• Vir Biotechnology recently reported weak quarterly results, posting an EPS loss of $0.85 and revenue far below expectations, while analysts now expect the company to lose $1.81 per share for the year.
• Despite mixed sentiment, Wall Street’s view remains Moderate Buy with an average price target of $20.88, even as some analysts downgraded the stock and company insiders have sold shares recently.

Pictet Asset Management Holding SA raised its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 10,878.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,480,828 shares of the company's stock after buying an additional 1,467,340 shares during the quarter. Pictet Asset Management Holding SA owned about 0.92% of Vir Biotechnology worth $13,268,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Vir Biotechnology in the 2nd quarter valued at approximately $35,000. FNY Investment Advisers LLC bought a new position in Vir Biotechnology during the third quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Vir Biotechnology by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company's stock worth $41,000 after purchasing an additional 1,390 shares during the last quarter. UMB Bank n.a. boosted its holdings in Vir Biotechnology by 1,418.7% in the fourth quarter. UMB Bank n.a. now owns 7,062 shares of the company's stock worth $43,000 after purchasing an additional 6,597 shares during the period. Finally, CWM LLC boosted its holdings in Vir Biotechnology by 23.0% in the fourth quarter. CWM LLC now owns 8,804 shares of the company's stock worth $53,000 after purchasing an additional 1,646 shares during the period. Institutional investors own 65.32% of the company's stock.

Vir Biotechnology Price Performance

Shares of VIR opened at $10.04 on Friday. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $11.66. The stock has a fifty day moving average price of $9.39 and a 200 day moving average price of $8.46. The company has a market cap of $1.69 billion, a P/E ratio of -3.21 and a beta of 1.62.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.84). Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 53.31%. The company had revenue of ($0.03) million during the quarter, compared to the consensus estimate of $55.49 million. During the same quarter in the previous year, the business posted ($0.88) earnings per share. As a group, research analysts anticipate that Vir Biotechnology, Inc. will post -1.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

VIR has been the topic of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Vir Biotechnology in a report on Friday, April 10th. Wall Street Zen lowered shares of Vir Biotechnology from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Morgan Stanley boosted their price objective on shares of Vir Biotechnology from $23.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. Finally, Leerink Partners increased their price objective on shares of Vir Biotechnology from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Vir Biotechnology has a consensus rating of "Moderate Buy" and an average price target of $20.88.

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $10.05, for a total value of $221,100.00. Following the sale, the director directly owned 1,078,391 shares in the company, valued at $10,837,829.55. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Janet Napolitano sold 3,200 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $9.45, for a total transaction of $30,240.00. Following the transaction, the director directly owned 21,216 shares of the company's stock, valued at $200,491.20. The trade was a 13.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,138 shares of company stock valued at $919,562 in the last quarter. Company insiders own 2.90% of the company's stock.

Vir Biotechnology Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company's pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.

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