Vir Biotechnology, Inc. (NASDAQ:VIR) Stock Position Raised by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 19,327.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 300,148 shares of the company’s stock after purchasing an additional 298,603 shares during the period. Federated Hermes Inc. owned 0.22% of Vir Biotechnology worth $2,671,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Vir Biotechnology by 0.6% during the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock valued at $125,362,000 after buying an additional 78,216 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Vir Biotechnology by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after acquiring an additional 6,359 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Vir Biotechnology by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after purchasing an additional 31,405 shares during the period. Empowered Funds LLC lifted its position in shares of Vir Biotechnology by 8.2% in the first quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock worth $4,640,000 after purchasing an additional 34,640 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Vir Biotechnology by 5.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 310,091 shares of the company’s stock worth $3,141,000 after purchasing an additional 16,615 shares in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VIR has been the topic of several research reports. Needham & Company LLC upped their price objective on shares of Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Morgan Stanley lifted their price objective 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. Finally, Barclays upped their target price on Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average target price of $36.80.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $7.94 on Friday. Vir Biotechnology, Inc. has a one year low of $7.41 and a one year high of $13.09. The company’s fifty day moving average price is $8.87 and its two-hundred day moving average price is $9.42. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.98 and a beta of 0.46.

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

Insider Buying and Selling at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction on 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 directly owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.60% of the company’s stock.

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.