State of Alaska Department of Revenue Increases Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

State of Alaska Department of Revenue increased its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 33.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,441 shares of the company’s stock after buying an additional 50,199 shares during the period. State of Alaska Department of Revenue owned about 0.15% of Vir Biotechnology worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in 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. Charles Schwab Investment Management Inc. lifted its holdings in Vir Biotechnology by 13.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after purchasing an additional 136,087 shares in the last quarter. Barclays PLC lifted its holdings in Vir Biotechnology by 1.3% in the 3rd quarter. Barclays PLC now owns 550,186 shares of the company’s stock valued at $4,121,000 after purchasing an additional 7,287 shares in the last quarter. abrdn plc purchased a new position in Vir Biotechnology in the 4th quarter valued at $2,666,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Vir Biotechnology by 10.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company’s stock valued at $2,623,000 after purchasing an additional 33,473 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VIR shares. JPMorgan Chase & Co. lifted their price target on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Leerink Partners lifted their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Barclays reduced their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Finally, Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average target price of $34.83.

Vir Biotechnology Stock Performance

Shares of Vir Biotechnology stock opened at $9.11 on Thursday. Vir Biotechnology, Inc. has a one year low of $6.56 and a one year high of $14.45. The company has a market cap of $1.25 billion, a PE ratio of -2.32 and a beta of 0.64. The business has a 50-day simple moving average of $9.07 and a 200-day simple moving average of $8.48.

Insider Buying and Selling

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the sale, the director now owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.60% of the stock is owned by company insiders.

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).