The Manufacturers Life Insurance Company Acquires 3,605 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

The Manufacturers Life Insurance Company raised its position in Vir Biotechnology, Inc. (NASDAQ:VIR) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,987 shares of the company’s stock after purchasing an additional 3,605 shares during the period. The Manufacturers Life Insurance Company’s holdings in Vir Biotechnology were worth $436,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after purchasing an additional 606,804 shares during the period. Affinity Asset Advisors LLC bought a new position in Vir Biotechnology in the 2nd quarter valued at $1,780,000. Caxton Associates LP bought a new position in Vir Biotechnology in the 2nd quarter valued at $531,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Vir Biotechnology by 491.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,959 shares of the company’s stock valued at $169,000 after purchasing an additional 15,755 shares during the period. Finally, Point72 Hong Kong Ltd boosted its holdings in Vir Biotechnology by 180.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 19,572 shares of the company’s stock valued at $174,000 after purchasing an additional 12,598 shares during the period. 65.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

VIR has been the subject of several analyst reports. Barclays raised their price target 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. HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Insider Buying and Selling

In related news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the transaction, the director now owns 11,616 shares in the company, valued at $90,604.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.60% of the stock is owned by corporate insiders.

Vir Biotechnology Stock Performance

Vir Biotechnology stock opened at $7.87 on Thursday. The firm’s fifty day moving average price is $7.97 and its 200-day moving average price is $9.00. The stock has a market cap of $1.08 billion, a P/E ratio of -2.20 and a beta of 0.46. Vir Biotechnology, Inc. has a fifty-two week low of $7.12 and a fifty-two week high of $13.09.

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 the consensus estimate 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 net margin of 612.40% and a negative return on equity of 30.93%. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.45) EPS. On average, analysts predict that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current year.

Vir Biotechnology Company Profile

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).