Voloridge Investment Management LLC Decreases Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Voloridge Investment Management LLC cut its stake in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 769,725 shares of the company's stock after selling 205,575 shares during the period. Voloridge Investment Management LLC owned approximately 0.56% of Vir Biotechnology worth $5,650,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State of Tennessee Department of Treasury raised its position in shares of Vir Biotechnology by 3.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company's stock worth $288,000 after purchasing an additional 1,227 shares during the last quarter. Rhumbline Advisers raised its position in shares of Vir Biotechnology by 0.5% during the 4th quarter. Rhumbline Advisers now owns 236,681 shares of the company's stock worth $1,737,000 after purchasing an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Vir Biotechnology by 31.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock worth $61,000 after purchasing an additional 1,999 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Vir Biotechnology by 10.7% during the 4th quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company's stock worth $194,000 after purchasing an additional 2,556 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Vir Biotechnology by 0.6% during the 4th quarter. Invesco Ltd. now owns 398,772 shares of the company's stock worth $2,927,000 after purchasing an additional 2,574 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Backer Marianne De sold 79,712 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the completion of the sale, the chief executive officer now directly owns 769,505 shares of the company's stock, valued at $4,578,554.75. The trade was a 9.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on VIR shares. Barclays lifted their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. The Goldman Sachs Group cut their price target on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, April 17th. HC Wainwright reiterated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Vir Biotechnology currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.86.

Vir Biotechnology Price Performance

VIR traded down $0.33 during trading on Friday, hitting $4.86. The company's stock had a trading volume of 2,399,232 shares, compared to its average volume of 1,398,514. Vir Biotechnology, Inc. has a twelve month low of $4.32 and a twelve month high of $14.45. The firm's 50 day moving average price is $5.50 and its 200-day moving average price is $7.51. The stock has a market cap of $671.84 million, a PE ratio of -1.24 and a beta of 1.36.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $3.03 million for the quarter, compared to analysts' expectations of $8.59 million. During the same period in the prior year, the firm earned ($0.48) earnings per share. The firm's quarterly revenue was down 94.6% on a year-over-year basis. Equities analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

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).