Franklin Resources Inc. Trims Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Franklin Resources Inc. lowered its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,948 shares of the company’s stock after selling 2,233 shares during the period. Franklin Resources Inc.’s holdings in Vir Biotechnology were worth $751,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its holdings in Vir Biotechnology by 2.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company’s stock valued at $390,000 after buying an additional 1,200 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Vir Biotechnology by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after purchasing an additional 6,359 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Vir Biotechnology by 15.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,647 shares of the company’s stock valued at $219,000 after buying an additional 3,215 shares during the period. Rhumbline Advisers increased its holdings in shares of Vir Biotechnology by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 238,504 shares of the company’s stock worth $2,123,000 after buying an additional 9,817 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Vir Biotechnology by 41.5% in the 2nd quarter. Victory Capital Management Inc. now owns 65,573 shares of the company’s stock worth $584,000 after buying an additional 19,216 shares during the period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VIR has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays decreased their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.40.

Vir Biotechnology Price Performance

NASDAQ:VIR opened at $7.47 on Monday. Vir Biotechnology, Inc. has a 12 month low of $6.56 and a 12 month high of $13.09. The business’s 50-day moving average is $7.99 and its two-hundred day moving average is $8.37. The firm has a market capitalization of $1.03 billion, a PE ratio of -1.91 and a beta of 0.49.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. During the same period last year, the firm posted ($1.22) earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. Equities analysts anticipate that Vir Biotechnology, Inc. will post -3.36 EPS for the current year.

Vir Biotechnology Company 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).