Victory Capital Management Inc. Raises Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Victory Capital Management Inc. raised its position in Vir Biotechnology, Inc. (NASDAQ:VIR) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,776 shares of the company’s stock after buying an additional 7,507 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Vir Biotechnology worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VIR. Quest Partners LLC lifted its stake in Vir Biotechnology by 171.4% in the third quarter. Quest Partners LLC now owns 34,455 shares of the company’s stock valued at $258,000 after buying an additional 21,760 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Vir Biotechnology in the third quarter valued at approximately $191,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 136,087 shares during the period. Valence8 US LP acquired a new position in shares of Vir Biotechnology in the third quarter valued at approximately $252,000. Finally, Algert Global LLC increased its holdings in shares of Vir Biotechnology by 27.9% in the third quarter. Algert Global LLC now owns 213,465 shares of the company’s stock valued at $1,599,000 after purchasing an additional 46,630 shares during the period. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Price Performance

Shares of VIR stock opened at $6.93 on Friday. The business’s fifty day moving average price is $9.15 and its 200 day moving average price is $8.38. Vir Biotechnology, Inc. has a 1-year low of $6.56 and a 1-year high of $14.45. The firm has a market capitalization of $950.40 million, a PE ratio of -1.77 and a beta of 1.17.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. The firm had revenue of $12.37 million for the quarter, compared to analyst estimates of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Equities research analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vir Biotechnology news, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the sale, the executive vice president now directly owns 79,460 shares in the company, valued at approximately $726,264.40. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,859 shares of company stock worth $326,458. 15.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VIR. Barclays boosted their target price on Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. Leerink Partners boosted their target price on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

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).