UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.05 Million Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,371 shares of the company’s stock after selling 30,188 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Vir Biotechnology worth $1,051,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VIR. Innealta Capital LLC bought a new stake in shares of Vir Biotechnology during the second quarter worth $32,000. Blue Trust Inc. lifted its holdings in shares of Vir Biotechnology by 143.5% in the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after purchasing an additional 2,351 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Vir Biotechnology during the third quarter worth about $56,000. Magnetar Financial LLC bought a new stake in Vir Biotechnology in the 2nd quarter valued at approximately $95,000. Finally, Quest Partners LLC grew its stake in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after acquiring an additional 7,452 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VIR has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays lowered their target price 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 reiterated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.40.

Vir Biotechnology Trading Down 2.6 %

Shares of NASDAQ VIR opened at $7.16 on Thursday. The company has a market capitalization of $986.08 million, a P/E ratio of -1.83 and a beta of 0.49. Vir Biotechnology, Inc. has a 12 month low of $6.56 and a 12 month high of $13.09. The stock has a 50 day moving average of $8.03 and a 200-day moving average of $8.58.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. During the same period in the prior year, the business earned ($1.22) EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts predict that Vir Biotechnology, Inc. will post -3.36 EPS for the current fiscal year.

Vir Biotechnology 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).