Empowered Funds LLC Decreases Stake in Vir Biotechnology, Inc. (NASDAQ:VIR)

Empowered Funds LLC reduced its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 33.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,781 shares of the company’s stock after selling 163,723 shares during the period. Empowered Funds LLC owned approximately 0.24% of Vir Biotechnology worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of VIR. Victory Capital Management Inc. raised its stake in Vir Biotechnology by 23.9% during the third quarter. Victory Capital Management Inc. now owns 81,269 shares of the company’s stock worth $609,000 after purchasing an additional 15,696 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Vir Biotechnology by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 26,280 shares of the company’s stock worth $197,000 after purchasing an additional 10,294 shares during the period. Blue Trust Inc. raised its stake in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares during the period. nVerses Capital LLC purchased a new position in Vir Biotechnology during the third quarter worth about $56,000. Finally, Vontobel Holding Ltd. raised its stake in Vir Biotechnology by 27.8% during the third quarter. Vontobel Holding Ltd. now owns 57,446 shares of the company’s stock worth $430,000 after purchasing an additional 12,511 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Stock Performance

Shares of VIR stock opened at $6.93 on Wednesday. The stock has a market capitalization of $954.40 million, a P/E ratio of -1.77 and a beta of 0.46. The company has a 50 day moving average price of $7.97 and a 200 day moving average price of $8.92. Vir Biotechnology, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.22) EPS. On average, research analysts forecast that Vir Biotechnology, Inc. will post -3.86 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Janet Napolitano sold 12,190 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the transaction, the director now owns 11,616 shares in the company, valued at $90,604.80. The trade was a 51.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 15,940 shares of company stock worth $127,410. Corporate insiders own 15.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays reduced their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

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).