Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 431,411 shares of the company’s stock after selling 3,215 shares during the quarter. Principal Financial Group Inc.’s holdings in Vir Biotechnology were worth $3,231,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Vir Biotechnology by 94.6% during the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after purchasing an additional 606,804 shares in the last quarter. State Street Corp grew its position in shares of Vir Biotechnology by 10.4% in the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after buying an additional 530,645 shares during the last quarter. Federated Hermes Inc. raised its stake in Vir Biotechnology by 19,327.1% during the 2nd quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock worth $2,671,000 after acquiring an additional 298,603 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in Vir Biotechnology in the second quarter valued at $1,780,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Vir Biotechnology by 6,402.0% in the second quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock valued at $1,679,000 after acquiring an additional 185,723 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Stock Up 3.2 %

NASDAQ VIR opened at $7.50 on Friday. The firm has a market cap of $1.03 billion, a P/E ratio of -1.91 and a beta of 0.49. Vir Biotechnology, Inc. has a 52-week low of $6.56 and a 52-week high of $13.09. The business’s 50-day moving average price is $7.97 and its 200 day moving average price is $8.31.

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

Analyst Ratings Changes

Several research firms have recently weighed in on VIR. Barclays reduced 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. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, HC Wainwright restated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.40.

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).