Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC lessened its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,218,617 shares of the company's stock after selling 354,383 shares during the period. Orbimed Advisors LLC owned about 2.34% of Vir Biotechnology worth $23,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Vir Biotechnology by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,196,601 shares of the company's stock valued at $16,127,000 after buying an additional 7,827 shares during the period. Dimensional Fund Advisors LP increased its holdings in Vir Biotechnology by 58.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock valued at $14,059,000 after buying an additional 703,360 shares during the period. Millennium Management LLC increased its holdings in Vir Biotechnology by 55.3% during the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock valued at $12,589,000 after buying an additional 610,367 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Vir Biotechnology by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,252,655 shares of the company's stock valued at $9,194,000 after buying an additional 118,379 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Vir Biotechnology by 4.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,237,600 shares of the company's stock valued at $9,084,000 after buying an additional 55,300 shares during the period. Institutional investors own 65.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VIR shares. HC Wainwright reissued a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, February 28th. Needham & Company LLC cut their price target on shares of Vir Biotechnology from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Barclays lifted their price target on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price target 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Vir Biotechnology presently has an average rating of "Moderate Buy" and an average price target of $32.86.

Insider Transactions at Vir Biotechnology

In related news, Director George A. Scangos sold 10,964 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares in the company, valued at $6,948,373.95. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now owns 769,505 shares of the company's stock, valued at $4,578,554.75. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,049 shares of company stock worth $649,232. Company insiders own 15.60% of the company's stock.

Vir Biotechnology Trading Up 1.1%

Shares of NASDAQ:VIR traded up $0.05 on Friday, hitting $4.60. 1,307,211 shares of the company were exchanged, compared to its average volume of 1,373,404. Vir Biotechnology, Inc. has a 1-year low of $4.32 and a 1-year high of $14.45. The stock's 50 day moving average price is $5.97 and its 200 day moving average price is $7.84. The firm has a market capitalization of $635.89 million, a P/E ratio of -1.17 and a beta of 1.36.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. 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 previous year, the firm posted ($0.48) earnings per share. The company's quarterly revenue was down 94.6% on a year-over-year basis. On average, equities analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

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).