Amalgamated Bank Reduces Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Amalgamated Bank decreased its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,740 shares of the company’s stock after selling 2,032 shares during the period. Amalgamated Bank’s holdings in Vir Biotechnology were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Vir Biotechnology by 249.9% in the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $27,000 after buying an additional 1,934 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Vir Biotechnology in the second quarter worth $32,000. PNC Financial Services Group Inc. grew its position in shares of Vir Biotechnology by 20.1% in the fourth 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 in the last quarter. Quest Partners LLC raised its stake in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after purchasing an additional 7,452 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Vir Biotechnology during the 1st quarter worth about $119,000. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Price Performance

VIR stock opened at $7.49 on Tuesday. The firm has a 50 day simple moving average of $8.50 and a two-hundred day simple moving average of $9.22. The stock has a market cap of $1.02 billion, a PE ratio of -1.87 and a beta of 0.46. Vir Biotechnology, Inc. has a one year low of $7.20 and a one year high of $13.09.

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

Analyst Ratings Changes

VIR has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Tuesday, August 20th. Needham & Company LLC raised their price target 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. Finally, Barclays upped their price target 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Insider Activity

In related news, Director Janet Napolitano sold 12,190 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.60% of the company’s stock.

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).