Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 4.3% during the 2nd quarter, Holdings Channel reports. The fund owned 238,504 shares of the company’s stock after purchasing an additional 9,817 shares during the period. Rhumbline Advisers’ holdings in Vir Biotechnology were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its position in Vir Biotechnology by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 74,977 shares of the company’s stock valued at $760,000 after acquiring an additional 1,012 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Vir Biotechnology by 9.2% during the 1st quarter. Ballentine Partners LLC now owns 13,704 shares of the company’s stock worth $139,000 after purchasing an additional 1,160 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Vir Biotechnology by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company’s stock valued at $390,000 after purchasing an additional 1,200 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Vir Biotechnology by 20.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock valued at $113,000 after purchasing an additional 1,869 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Vir Biotechnology by 249.9% during the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after buying an additional 1,934 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

Insider Buying and Selling

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction dated Monday, September 9th. The shares were 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 directly owns 11,616 shares in the company, valued at $90,604.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.60% of the stock is owned by company insiders.

Vir Biotechnology Stock Up 1.8 %

VIR stock opened at $7.94 on Friday. Vir Biotechnology, Inc. has a 52 week low of $7.41 and a 52 week high of $13.09. The firm has a 50-day simple moving average of $8.87 and a 200-day simple moving average of $9.42. The stock has a market capitalization of $1.08 billion, a P/E ratio of -1.98 and a beta of 0.46.

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). Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The firm had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $7.53 million. During the same quarter last year, the firm posted ($1.45) earnings per share. Vir Biotechnology’s quarterly revenue was down 19.0% on a year-over-year basis. On average, analysts expect that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Barclays increased their price target on Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and three 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 an average target price of $36.80.

About Vir Biotechnology

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.