Orbimed Advisors LLC Has $23.63 Million Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Orbimed Advisors LLC lessened its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,218,617 shares of the company's stock after selling 354,383 shares during the quarter. Orbimed Advisors LLC owned approximately 2.34% of Vir Biotechnology worth $23,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VIR. Barclays PLC grew its stake in shares of Vir Biotechnology by 1.3% during the third quarter. Barclays PLC now owns 550,186 shares of the company's stock worth $4,121,000 after buying an additional 7,287 shares during the last quarter. KBC Group NV grew its stake in shares of Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company's stock worth $66,000 after buying an additional 5,177 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Vir Biotechnology by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 29,202 shares of the company's stock worth $214,000 after buying an additional 2,922 shares during the last quarter. abrdn plc bought a new stake in shares of Vir Biotechnology during the fourth quarter worth $2,666,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Vir Biotechnology by 33.0% during the fourth quarter. State of Alaska Department of Revenue now owns 202,441 shares of the company's stock worth $1,485,000 after buying an additional 50,199 shares during the last quarter. Institutional investors own 65.32% of the company's stock.

Vir Biotechnology Stock Performance

Shares of NASDAQ VIR traded up $0.05 during trading on Thursday, hitting $4.55. 1,231,070 shares of the company traded hands, compared to its average volume of 1,366,913. The business's fifty day moving average is $6.02 and its 200 day moving average is $7.85. Vir Biotechnology, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $14.45. The firm has a market capitalization of $628.98 million, a price-to-earnings ratio of -1.16 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 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 analyst estimates of $8.59 million. During the same quarter in the prior year, the company posted ($0.48) EPS. Vir Biotechnology's revenue for the quarter was down 94.6% on a year-over-year basis. On average, analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Activity

In other news, CEO Backer Marianne De sold 79,712 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the transaction, the chief executive officer now owns 769,505 shares in the company, valued at approximately $4,578,554.75. This represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares in the company, valued at $726,264.40. This represents a 8.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,049 shares of company stock worth $649,232. Company insiders own 15.60% of the company's stock.

Analyst Ratings Changes

VIR has been the topic of several analyst reports. HC Wainwright reissued a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, February 28th. Barclays boosted their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. The Goldman Sachs Group dropped their target price on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC dropped their target price on shares of Vir Biotechnology from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.86.

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).