Geode Capital Management LLC Increases Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Geode Capital Management LLC lifted its position in Vir Biotechnology, Inc. (NASDAQ:VIR) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,188,774 shares of the company’s stock after acquiring an additional 5,146 shares during the period. Geode Capital Management LLC owned 1.59% of Vir Biotechnology worth $16,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of VIR. Louisiana State Employees Retirement System lifted its position in Vir Biotechnology by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company’s stock valued at $390,000 after purchasing an additional 1,200 shares during the period. Bank of New York Mellon Corp increased its holdings in Vir Biotechnology by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after buying an additional 6,359 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Vir Biotechnology by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,647 shares of the company’s stock valued at $219,000 after buying an additional 3,215 shares in the last quarter. Rhumbline Advisers raised its holdings in Vir Biotechnology by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 238,504 shares of the company’s stock worth $2,123,000 after purchasing an additional 9,817 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Vir Biotechnology by 41.5% in the second quarter. Victory Capital Management Inc. now owns 65,573 shares of the company’s stock valued at $584,000 after purchasing an additional 19,216 shares during the period. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Vir Biotechnology Trading Up 0.9 %

VIR stock opened at $7.47 on Monday. The company’s 50 day moving average is $7.99 and its two-hundred day moving average is $8.37. Vir Biotechnology, Inc. has a twelve month low of $6.56 and a twelve month high of $13.09. The stock has a market cap of $1.03 billion, a P/E ratio of -1.91 and a beta of 0.49.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The firm had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.22) earnings per share. On average, equities research analysts predict that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Finally, Barclays cut their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Vir Biotechnology has an average rating of “Moderate Buy” and a consensus target price of $36.40.

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).