Wells Fargo & Company MN Reduces Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Wells Fargo & Company MN lessened its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 79.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,661 shares of the company's stock after selling 199,096 shares during the quarter. Wells Fargo & Company MN's holdings in Vir Biotechnology were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership purchased a new stake in Vir Biotechnology in the 4th quarter valued at $6,742,000. Alta Partners Management Company L.P. purchased a new position in shares of Vir Biotechnology during the 4th quarter worth approximately $3,593,000. abrdn plc purchased a new position in shares of Vir Biotechnology in the fourth quarter valued at $2,666,000. ExodusPoint Capital Management LP purchased a new stake in Vir Biotechnology during the 4th quarter worth about $1,812,000. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $9,194,000 after buying an additional 118,379 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Price Performance

NASDAQ VIR traded down $0.28 during mid-day trading on Friday, reaching $5.13. The stock had a trading volume of 310,612 shares, compared to its average volume of 1,336,938. The stock has a market cap of $708.27 million, a PE ratio of -1.31 and a beta of 1.36. The company has a fifty day moving average price of $6.34 and a 200 day moving average price of $7.95. Vir Biotechnology, Inc. has a 1 year low of $4.95 and a 1 year high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released 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 analysts' expectations of $8.59 million. During the same period in the previous year, the firm earned ($0.48) earnings per share. The firm's revenue for the quarter was down 94.6% on a year-over-year basis. As a group, equities research analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 708,295 shares of the company's stock, valued at approximately $6,948,373.95. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total value of $67,389.22. Following the sale, the executive vice president now owns 79,460 shares in the company, valued at approximately $726,264.40. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,611 shares of company stock worth $663,525 over the last quarter. Insiders own 15.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on VIR. Needham & Company LLC reissued a "buy" rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Thursday, February 27th. Leerink Partners raised their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, January 9th. The Goldman Sachs Group dropped their price target on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, 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 research note on Friday, February 28th. 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.57.

Vir Biotechnology 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).