10,132 Shares in Vir Biotechnology, Inc. (NASDAQ:VIR) Bought by CIBC Asset Management Inc

CIBC Asset Management Inc bought a new position in Vir Biotechnology, Inc. (NASDAQ:VIR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,132 shares of the company’s stock, valued at approximately $74,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Vir Biotechnology by 10.4% in the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Vir Biotechnology by 13.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock worth $8,496,000 after buying an additional 136,087 shares in the last quarter. Barclays PLC lifted its position in Vir Biotechnology by 1.3% during the 3rd quarter. Barclays PLC now owns 550,186 shares of the company’s stock worth $4,121,000 after buying an additional 7,287 shares in the last quarter. Principal Financial Group Inc. lifted its position in Vir Biotechnology by 3.7% during the 4th quarter. Principal Financial Group Inc. now owns 447,313 shares of the company’s stock worth $3,283,000 after buying an additional 15,902 shares in the last quarter. Finally, abrdn plc bought a new stake in Vir Biotechnology during the 4th quarter worth about $2,666,000. 65.32% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Stock Performance

Shares of VIR stock opened at $9.20 on Thursday. Vir Biotechnology, Inc. has a 52-week low of $6.56 and a 52-week high of $14.45. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -2.35 and a beta of 0.63. The firm’s 50-day moving average is $9.42 and its 200-day moving average is $8.50.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VIR has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Leerink Partners boosted their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $10.00 to $20.00 in a report on Thursday, January 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average price target of $34.83.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the transaction, the director now owns 708,295 shares in the company, valued at $6,948,373.95. This represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the sale, the director now owns 1,312,391 shares in the company, valued at $16,431,135.32. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,562 shares of company stock worth $259,693. Insiders own 15.60% of the company’s stock.

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).