Renaissance Technologies LLC Has $11.83 Million Stake in Vir Biotechnology, Inc. (NASDAQ:VIR)

Renaissance Technologies LLC cut its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,329,700 shares of the company’s stock after selling 26,400 shares during the period. Renaissance Technologies LLC owned approximately 0.98% of Vir Biotechnology worth $11,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Vir Biotechnology by 249.9% during the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after buying an additional 1,934 shares during the period. Quadrant Capital Group LLC lifted its stake in Vir Biotechnology by 274.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after acquiring an additional 2,177 shares in the last quarter. Innealta Capital LLC bought a new stake in Vir Biotechnology in the 2nd quarter valued at approximately $32,000. PNC Financial Services Group Inc. boosted its position in Vir Biotechnology by 20.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock worth $113,000 after acquiring an additional 1,869 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Vir Biotechnology during the 1st quarter worth approximately $119,000. Institutional investors own 65.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VIR shares. HC Wainwright restated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Tuesday, August 20th. Needham & Company LLC increased their price objective on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Barclays lifted their target price on Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Vir Biotechnology Stock Performance

Shares of VIR stock opened at $7.76 on Monday. Vir Biotechnology, Inc. has a 52-week low of $7.41 and a 52-week high of $13.09. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -1.94 and a beta of 0.46. The firm’s 50-day moving average is $8.81 and its 200-day moving average is $9.38.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13). Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The business had revenue of $3.08 million for the quarter, compared to analyst estimates of $7.53 million. During the same period last year, the firm earned ($1.45) EPS. Vir Biotechnology’s quarterly revenue was down 19.0% compared to the same quarter last year. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.26 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at approximately $90,604.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 15.60% of the stock is owned by company insiders.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.