Vir Biotechnology (NASDAQ:VIR) Major Shareholder Endurance (Cayman) Ltd Svf Sells 73,955 Shares

Key Points

• Endurance (Cayman) Ltd Svf sold 73,955 shares of Vir Biotechnology at an average price of $5.69, totaling approximately $420,804, reducing its ownership stake in the company slightly.
• Vir Biotechnology reported a Q2 loss of $0.80 EPS, missing estimates, with revenues of $1.21 million which represents a decline of 60.5% year-over-year.
• Major hedge funds have increased their stakes in Vir Biotechnology, with institutional investors now holding 65.32% of the company's stock, indicating renewed interest from large investors.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) major shareholder Endurance (Cayman) Ltd Svf sold 73,955 shares of the firm's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $5.69, for a total transaction of $420,803.95. Following the completion of the transaction, the insider directly owned 16,159,744 shares in the company, valued at approximately $91,948,943.36. This represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Endurance (Cayman) Ltd Svf also recently made the following trade(s):

• On Friday, October 3rd, Endurance (Cayman) Ltd Svf sold 450,342 shares of Vir Biotechnology stock. The stock was sold at an average price of $5.56, for a total transaction of $2,503,901.52.

Vir Biotechnology Trading Up 1.3%

NASDAQ:VIR traded up $0.07 during mid-day trading on Tuesday, hitting $5.66. The company had a trading volume of 875,856 shares, compared to its average volume of 1,541,135. The business has a fifty day simple moving average of $4.99 and a 200-day simple moving average of $5.31. The firm has a market capitalization of $786.26 million, a price-to-earnings ratio of -1.42 and a beta of 1.27. Vir Biotechnology, Inc. has a 1 year low of $4.16 and a 1 year high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). The company had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. Vir Biotechnology's quarterly revenue was down 60.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.02) EPS. As a group, research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

VIR has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective on shares of Vir Biotechnology in a report on Monday, September 15th. Bank of America raised Vir Biotechnology from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. Evercore ISI started coverage on Vir Biotechnology in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price target for the company. Raymond James Financial initiated coverage on Vir Biotechnology in a research note on Friday, July 11th. They set an "outperform" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Vir Biotechnology in a research report on Saturday, September 27th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.30.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds have recently bought and sold shares of the company. ARCH Venture Management LLC bought a new stake in Vir Biotechnology in the second quarter valued at about $65,100,000. Nordea Investment Management AB grew its position in shares of Vir Biotechnology by 403.7% in the 2nd quarter. Nordea Investment Management AB now owns 704,377 shares of the company's stock worth $3,677,000 after acquiring an additional 564,537 shares in the last quarter. Clarius Group LLC increased its holdings in shares of Vir Biotechnology by 979.7% in the 2nd quarter. Clarius Group LLC now owns 617,535 shares of the company's stock valued at $3,112,000 after acquiring an additional 560,342 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of Vir Biotechnology by 812.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 582,981 shares of the company's stock valued at $2,938,000 after acquiring an additional 519,107 shares in the last quarter. Finally, Nuveen LLC bought a new position in Vir Biotechnology during the first quarter worth $2,324,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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).

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