Bank of New York Mellon Corp Increases Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Bank of New York Mellon Corp grew its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 0.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 813,288 shares of the company’s stock after purchasing an additional 6,359 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vir Biotechnology were worth $7,238,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Vir Biotechnology by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock valued at $123,709,000 after acquiring an additional 1,096,473 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Vir Biotechnology by 8.4% in the first quarter. ProShare Advisors LLC now owns 26,392 shares of the company’s stock worth $267,000 after purchasing an additional 2,035 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vir Biotechnology by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after purchasing an additional 31,405 shares in the last quarter. Quest Partners LLC bought a new position in shares of Vir Biotechnology during the fourth quarter valued at $258,000. Finally, Empowered Funds LLC boosted its position in shares of Vir Biotechnology by 8.2% during the first quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock valued at $4,640,000 after buying an additional 34,640 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vir Biotechnology news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at approximately $90,604.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.60% of the company’s stock.

Vir Biotechnology Price Performance

NASDAQ:VIR opened at $7.83 on Thursday. Vir Biotechnology, Inc. has a one year low of $7.41 and a one year high of $13.09. The business has a fifty day moving average price of $8.92 and a 200-day moving average price of $9.55. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -1.95 and a beta of 0.47.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.13). The company had revenue of $3.08 million during the quarter, compared to the consensus estimate of $7.53 million. Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period last year, the business earned ($1.45) EPS. On average, equities research analysts expect that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VIR has been the topic of several research analyst reports. Needham & Company LLC upped their target price on shares of Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. HC Wainwright restated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Tuesday, August 20th. Barclays raised their target price on shares of Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Morgan Stanley boosted their target price on shares of Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.