Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in Vir Biotechnology, Inc. (NASDAQ:VIR) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,948 shares of the company’s stock after selling 2,233 shares during the period. Franklin Resources Inc. owned about 0.07% of Vir Biotechnology worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in VIR. Barclays PLC lifted its holdings in Vir Biotechnology by 1.3% in the third quarter. Barclays PLC now owns 550,186 shares of the company’s stock valued at $4,121,000 after acquiring an additional 7,287 shares during the period. State Street Corp increased its holdings in shares of Vir Biotechnology by 10.4% in the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after purchasing an additional 530,645 shares in the last quarter. Quarry LP lifted its stake in shares of Vir Biotechnology by 901.8% in the third quarter. Quarry LP now owns 17,000 shares of the company’s stock valued at $127,000 after purchasing an additional 15,303 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Vir Biotechnology by 10.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company’s stock worth $2,623,000 after buying an additional 33,473 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Vir Biotechnology during the third quarter worth about $217,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Price Performance

Shares of VIR opened at $7.47 on Monday. Vir Biotechnology, Inc. has a 1-year low of $6.56 and a 1-year high of $13.09. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -1.91 and a beta of 0.49. The firm has a 50 day simple moving average of $7.99 and a 200-day simple moving average of $8.37.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on VIR. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays reduced their price objective on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

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).