Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its position in Vir Biotechnology, Inc. (NASDAQ:VIR) by 57.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,128 shares of the company’s stock after selling 40,998 shares during the quarter. Profund Advisors LLC’s holdings in Vir Biotechnology were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VIR. Charles Schwab Investment Management Inc. grew its stake in Vir Biotechnology by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after acquiring an additional 31,405 shares in the last quarter. Rathbones Group PLC increased its holdings in shares of Vir Biotechnology by 45.3% in the fourth quarter. Rathbones Group PLC now owns 32,067 shares of the company’s stock valued at $323,000 after purchasing an additional 10,000 shares during the last quarter. Aristides Capital LLC purchased a new position in Vir Biotechnology during the fourth quarter worth approximately $239,000. Vanguard Group Inc. boosted its stake in Vir Biotechnology by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock worth $123,709,000 after buying an additional 1,096,473 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Vir Biotechnology by 20.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock valued at $113,000 after buying an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Price Performance

Shares of VIR stock opened at $7.53 on Friday. Vir Biotechnology, Inc. has a 1-year low of $7.20 and a 1-year high of $13.09. The firm has a market cap of $1.03 billion, a PE ratio of -1.88 and a beta of 0.46. The company has a 50-day moving average of $8.55 and a two-hundred day moving average of $9.26.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13). The company had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $7.53 million. Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.45) EPS. Sell-side analysts anticipate that Vir Biotechnology, Inc. will post -3.26 EPS for the current fiscal year.

Insider Transactions at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 directly owns 11,616 shares in the company, valued at approximately $90,604.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on VIR shares. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Tuesday, August 20th. Barclays boosted their target price on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Finally, Needham & Company LLC upped their price objective on Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Vir Biotechnology Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.