State Street Corp Acquires 530,645 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

State Street Corp lifted its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 10.4% in the third quarter, Holdings Channel.com reports. The fund owned 5,625,533 shares of the company’s stock after purchasing an additional 530,645 shares during the period. State Street Corp’s holdings in Vir Biotechnology were worth $42,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Quarry LP increased its holdings in Vir Biotechnology by 901.8% during the 3rd quarter. Quarry LP now owns 17,000 shares of the company’s stock worth $127,000 after acquiring an additional 15,303 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Vir Biotechnology by 10.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company’s stock valued at $2,623,000 after purchasing an additional 33,473 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Vir Biotechnology in the third quarter worth $217,000. PDT Partners LLC increased its holdings in shares of Vir Biotechnology by 34.4% in the third quarter. PDT Partners LLC now owns 220,821 shares of the company’s stock worth $1,654,000 after purchasing an additional 56,494 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Vir Biotechnology during the third quarter valued at $395,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock opened at $7.34 on Friday. Vir Biotechnology, Inc. has a 1-year low of $6.56 and a 1-year high of $13.09. The company’s fifty day simple moving average is $8.02 and its 200-day simple moving average is $8.55. The stock has a market capitalization of $1.01 billion, a PE ratio of -1.87 and a beta of 0.49.

Vir Biotechnology (NASDAQ:VIR) last released 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 for the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter last year, the firm posted ($1.22) earnings per share. Vir Biotechnology’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, research 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).