Headlands Technologies LLC Buys 20,556 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Headlands Technologies LLC lifted its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 175.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,289 shares of the company’s stock after purchasing an additional 20,556 shares during the period. Headlands Technologies LLC’s holdings in Vir Biotechnology were worth $287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VIR. Quest Partners LLC raised its stake in Vir Biotechnology by 142.1% in the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after acquiring an additional 7,452 shares during the period. Los Angeles Capital Management LLC bought a new stake in Vir Biotechnology in the 2nd quarter valued at $119,000. Victory Capital Management Inc. raised its stake in Vir Biotechnology by 41.5% in the 2nd quarter. Victory Capital Management Inc. now owns 65,573 shares of the company’s stock valued at $584,000 after acquiring an additional 19,216 shares during the period. Rhumbline Advisers raised its stake in Vir Biotechnology by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 238,504 shares of the company’s stock valued at $2,123,000 after acquiring an additional 9,817 shares during the period. Finally, Innealta Capital LLC bought a new stake in Vir Biotechnology in the 2nd quarter valued at $32,000. Institutional investors own 65.32% of the company’s stock.

Analysts Set New Price Targets

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

Vir Biotechnology Stock Performance

VIR opened at $8.11 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of -2.02 and a beta of 0.46. Vir Biotechnology, Inc. has a 52-week low of $7.41 and a 52-week high of $13.09. The business’s fifty day moving average is $8.90 and its 200-day moving average is $9.51.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.13). The company had revenue of $3.08 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted ($1.45) earnings per share. On average, research analysts predict that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total transaction of $95,082.00. Following the sale, the director now directly owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 15.60% of the stock is currently owned by insiders.

Vir Biotechnology Company 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.