Vir Biotechnology, Inc. (NASDAQ:VIR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 431,411 shares of the company’s stock after selling 3,215 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Vir Biotechnology worth $3,231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its stake in Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after purchasing an additional 2,351 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Vir Biotechnology during the third quarter worth $56,000. Magnetar Financial LLC acquired a new stake in shares of Vir Biotechnology in the second quarter valued at about $95,000. Quest Partners LLC lifted its stake in shares of Vir Biotechnology by 142.1% in the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after buying an additional 7,452 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Vir Biotechnology during the second quarter worth about $119,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Stock Performance

VIR stock opened at $7.50 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of -1.91 and a beta of 0.49. Vir Biotechnology, Inc. has a one year low of $6.56 and a one year high of $13.09. The firm’s 50 day moving average price is $7.97 and its 200-day moving average price is $8.31.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company earned ($1.22) EPS. Equities research analysts predict that Vir Biotechnology, Inc. will post -3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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).