Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 13.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,134,276 shares of the company’s stock after buying an additional 136,087 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Vir Biotechnology were worth $8,496,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VIR. Affinity Asset Advisors LLC purchased a new position in Vir Biotechnology during the 2nd quarter worth approximately $1,780,000. Point72 Hong Kong Ltd grew its position in Vir Biotechnology by 180.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 19,572 shares of the company’s stock worth $174,000 after purchasing an additional 12,598 shares in the last quarter. Millennium Management LLC grew its position in Vir Biotechnology by 94.6% during the 2nd 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. Intech Investment Management LLC purchased a new position in Vir Biotechnology during the 3rd quarter worth approximately $191,000. Finally, Quest Partners LLC grew its position in Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after purchasing an additional 7,452 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

Vir Biotechnology Stock Down 7.2 %

Vir Biotechnology stock opened at $8.09 on Wednesday. The company’s fifty day simple moving average is $8.02 and its 200-day simple moving average is $8.71. Vir Biotechnology, Inc. has a 12 month low of $6.56 and a 12 month high of $13.09. The stock has a market cap of $1.11 billion, a P/E ratio of -2.22 and a beta of 0.49.

Vir Biotechnology (NASDAQ:VIR) last posted 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 net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter in the prior year, the firm earned ($1.22) earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VIR has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays lowered their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average 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).