Bank of New York Mellon Corp Lowers Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Bank of New York Mellon Corp reduced its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 604,067 shares of the company’s stock after selling 38,216 shares during the quarter. Bank of New York Mellon Corp owned about 0.44% of Vir Biotechnology worth $4,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of VIR. State of Alaska Department of Revenue grew its position in shares of Vir Biotechnology by 33.0% in the 4th quarter. State of Alaska Department of Revenue now owns 202,441 shares of the company’s stock worth $1,485,000 after buying an additional 50,199 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Vir Biotechnology by 13.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after acquiring an additional 136,087 shares in the last quarter. State Street Corp boosted its stake in Vir Biotechnology by 10.4% in the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after acquiring an additional 530,645 shares in the last quarter. Rhumbline Advisers grew its holdings in Vir Biotechnology by 0.5% in the fourth quarter. Rhumbline Advisers now owns 236,681 shares of the company’s stock worth $1,737,000 after purchasing an additional 1,288 shares during the last quarter. Finally, abrdn plc acquired a new position in shares of Vir Biotechnology during the fourth quarter worth $2,666,000. 65.32% of the stock is owned by institutional investors.

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Verneuil Vanina De sold 7,373 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total value of $67,389.22. Following the completion of the transaction, the executive vice president now owns 79,460 shares in the company, valued at $726,264.40. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,859 shares of company stock valued at $326,458 in the last ninety days. Insiders own 15.60% of the company’s stock.

Vir Biotechnology Stock Performance

Shares of Vir Biotechnology stock opened at $6.93 on Wednesday. Vir Biotechnology, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $14.45. The firm has a market capitalization of $950.40 million, a price-to-earnings ratio of -1.77 and a beta of 1.17. The stock has a 50 day moving average of $9.47 and a 200 day moving average of $8.41.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.09. The business had revenue of $12.37 million during the quarter, compared to analyst estimates of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on VIR shares. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their target price on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Barclays boosted their price target on Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $20.00 in a report on Thursday, January 9th. Finally, Leerink Partners lifted their target price on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.67.

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).