CX Institutional purchased a new position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR – Get Rating) during the second quarter, Holdings Channel.com reports. The firm purchased 29,812 shares of the company's stock, valued at approximately $759,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. US Bancorp DE raised its position in shares of Vir Biotechnology by 175.1% during the second quarter. US Bancorp DE now owns 982 shares of the company's stock worth $25,000 after purchasing an additional 625 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Vir Biotechnology in the 2nd quarter valued at $63,000. Quantbot Technologies LP purchased a new stake in Vir Biotechnology in the 1st quarter valued at $64,000. Lazard Asset Management LLC raised its position in Vir Biotechnology by 11,346.9% in the 1st quarter. Lazard Asset Management LLC now owns 3,663 shares of the company's stock valued at $94,000 after buying an additional 3,631 shares during the last quarter. Finally, Allworth Financial LP raised its position in Vir Biotechnology by 2,671.7% in the 1st quarter. Allworth Financial LP now owns 5,100 shares of the company's stock valued at $131,000 after buying an additional 4,916 shares during the last quarter. 64.55% of the stock is currently owned by institutional investors.
Get Vir Biotechnology alerts:Vir Biotechnology Stock Up 4.3 %
Shares of NASDAQ VIR opened at $21.24 on Friday. Vir Biotechnology, Inc. has a 52 week low of $18.05 and a 52 week high of $58.00. The business has a 50-day simple moving average of $21.92 and a two-hundred day simple moving average of $24.06. The company has a market cap of $2.82 billion, a P/E ratio of 2.65 and a beta of -0.06.
Vir Biotechnology (NASDAQ:VIR – Get Rating) last issued its earnings results on Tuesday, August 9th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.41). Vir Biotechnology had a return on equity of 68.86% and a net margin of 52.29%. The company had revenue of $40.60 million during the quarter, compared to the consensus estimate of $211.14 million. During the same quarter in the prior year, the business earned $0.46 EPS. The firm's revenue for the quarter was down 77.1% compared to the same quarter last year. Equities research analysts anticipate that Vir Biotechnology, Inc. will post 3.04 EPS for the current year.Wall Street Analysts Forecast Growth
VIR has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on Vir Biotechnology in a research report on Friday, September 9th. They issued an "underweight" rating and a $15.00 price target for the company. SVB Leerink assumed coverage on Vir Biotechnology in a research report on Wednesday, September 14th. They issued an "outperform" rating and a $40.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $125.00 target price on shares of Vir Biotechnology in a research report on Thursday, July 14th. TheStreet raised Vir Biotechnology from a "d" rating to a "c-" rating in a research report on Monday, October 10th. Finally, Barclays decreased their target price on Vir Biotechnology to $67.00 in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $51.00.
Insider Activity
In other news, major shareholder Endurance (Cayman) Ltd Svf sold 122,564 shares of Vir Biotechnology stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $27.99, for a total transaction of $3,430,566.36. Following the completion of the sale, the insider now owns 22,094,080 shares in the company, valued at approximately $618,413,299.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Vicki L. Sato sold 17,915 shares of the firm's stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $20.67, for a total transaction of $370,303.05. Following the transaction, the director now directly owns 1,416,919 shares of the company's stock, valued at approximately $29,287,715.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Endurance (Cayman) Ltd Svf sold 122,564 shares of the firm's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $27.99, for a total value of $3,430,566.36. Following the transaction, the insider now directly owns 22,094,080 shares in the company, valued at $618,413,299.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,394 shares of company stock worth $4,193,208. 22.40% of the stock is currently owned by insiders.
Vir Biotechnology Company Profile
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Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus.
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