Texas Permanent School Fund Corp Sells 10,538 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Texas Permanent School Fund Corp reduced its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 14.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,439 shares of the company’s stock after selling 10,538 shares during the period. Texas Permanent School Fund Corp’s holdings in Vir Biotechnology were worth $574,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Vir Biotechnology by 249.9% in the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after purchasing an additional 1,934 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Vir Biotechnology by 274.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock worth $30,000 after buying an additional 2,177 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Vir Biotechnology in the second quarter valued at $32,000. PNC Financial Services Group Inc. grew its holdings in shares of Vir Biotechnology by 20.1% during the fourth 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 during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Vir Biotechnology during the first quarter worth about $119,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VIR. Needham & Company LLC raised their price objective on Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Morgan Stanley boosted 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. Barclays increased their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Vir Biotechnology Trading Down 2.3 %

Vir Biotechnology stock opened at $7.76 on Friday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.94 and a beta of 0.46. The firm has a 50 day simple moving average of $8.81 and a 200 day simple moving average of $9.39. Vir Biotechnology, Inc. has a 1-year low of $7.41 and a 1-year high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results 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). Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.93%. The company had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $7.53 million. During the same period in the previous year, the firm earned ($1.45) EPS. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. On average, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.26 EPS for the current year.

Insider Buying and Selling

In other news, Director Janet Napolitano sold 12,190 shares of the business’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 owns 11,616 shares of the company’s stock, valued at $90,604.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.60% of the stock is currently owned by company insiders.

About Vir Biotechnology

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.