Victory Capital Management Inc. Acquires 15,696 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Victory Capital Management Inc. boosted its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 23.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,269 shares of the company’s stock after purchasing an additional 15,696 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Vir Biotechnology worth $609,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VIR. Vanguard Group Inc. increased its holdings in shares of Vir Biotechnology by 0.6% in the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock worth $125,362,000 after buying an additional 78,216 shares during the period. Affinity Asset Advisors LLC bought a new position in Vir Biotechnology during the 2nd quarter worth approximately $1,780,000. Point72 Hong Kong Ltd increased its stake in Vir Biotechnology by 180.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 19,572 shares of the company’s stock worth $174,000 after purchasing an additional 12,598 shares during the period. Millennium Management LLC lifted its position in Vir Biotechnology by 94.6% in the second 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 last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Vir Biotechnology by 116.6% during the first quarter. Russell Investments Group Ltd. now owns 25,971 shares of the company’s stock valued at $263,000 after purchasing an additional 13,981 shares during the period. 65.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the sale, the director now directly owns 11,616 shares of the company’s stock, valued at $90,604.80. This represents a 51.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 15,940 shares of company stock worth $127,410 over the last three months. Company insiders own 15.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VIR shares. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Barclays cut their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vir Biotechnology presently has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Vir Biotechnology Stock Up 3.1 %

Shares of VIR stock opened at $7.86 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.01 and a beta of 0.46. The stock has a fifty day moving average of $7.89 and a 200 day moving average of $8.82. Vir Biotechnology, Inc. has a 52 week low of $6.56 and a 52 week high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. During the same quarter last year, the company posted ($1.22) earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that Vir Biotechnology, Inc. will post -3.36 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).