Vir Biotechnology, Inc. (NASDAQ:VIR) Position Lessened by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 42.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,037 shares of the company’s stock after selling 11,022 shares during the quarter. AQR Capital Management LLC’s holdings in Vir Biotechnology were worth $134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 1,934 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Vir Biotechnology during the second quarter worth $32,000. Magnetar Financial LLC purchased a new stake in shares of Vir Biotechnology during the second quarter worth $95,000. PNC Financial Services Group Inc. raised its holdings in shares of Vir Biotechnology by 20.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock worth $113,000 after acquiring an additional 1,869 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Vir Biotechnology during the first quarter valued at about $119,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.80, for a total transaction of $95,082.00. Following the sale, the director now directly owns 11,616 shares of the company’s stock, valued at $90,604.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on VIR shares. HC Wainwright restated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Tuesday, August 20th. Barclays raised their target price on Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology presently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Vir Biotechnology Stock Performance

Shares of NASDAQ:VIR opened at $7.63 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of -1.90 and a beta of 0.46. The stock’s 50-day moving average is $7.93 and its 200-day moving average is $8.97. Vir Biotechnology, Inc. has a 52-week low of $7.12 and a 52-week high of $13.09.

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