Hennion & Walsh Asset Management Inc. Lowers Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Hennion & Walsh Asset Management Inc. lowered its position in Vir Biotechnology, Inc. (NASDAQ:VIR) by 9.5% during the 3rd quarter, Holdings Channel reports. The firm owned 35,132 shares of the company’s stock after selling 3,690 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Vir Biotechnology were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after buying an additional 2,351 shares during the period. Innealta Capital LLC bought a new position in Vir Biotechnology during the 2nd quarter worth about $32,000. nVerses Capital LLC purchased a new position in Vir Biotechnology during the 3rd quarter valued at about $56,000. Magnetar Financial LLC bought a new stake in shares of Vir Biotechnology in the 2nd quarter valued at about $95,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Vir Biotechnology by 20.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock worth $113,000 after purchasing an additional 1,869 shares during the period. 65.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Barclays upped their price objective on Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Vir Biotechnology Stock Down 1.8 %

VIR opened at $7.61 on Wednesday. The company has a market cap of $1.04 billion, a P/E ratio of -2.13 and a beta of 0.46. Vir Biotechnology, Inc. has a 52-week low of $7.12 and a 52-week high of $13.09. The firm’s 50-day moving average price is $7.78 and its 200-day moving average price is $8.88.

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

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now directly owns 11,616 shares in the company, valued at approximately $90,604.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 15.60% of the stock is owned by insiders.

About Vir Biotechnology

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).