Point72 Hong Kong Ltd Increases Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Point72 Hong Kong Ltd boosted its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 180.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,572 shares of the company’s stock after purchasing an additional 12,598 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Vir Biotechnology were worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Vir Biotechnology by 0.6% in the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock valued at $125,362,000 after purchasing an additional 78,216 shares in the last quarter. Bank of New York Mellon Corp grew its position in Vir Biotechnology by 0.8% during 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 acquiring an additional 6,359 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Vir Biotechnology by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after acquiring an additional 31,405 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Vir Biotechnology by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock valued at $5,673,000 after acquiring an additional 58,360 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Vir Biotechnology by 8.2% during the first quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock valued at $4,640,000 after acquiring an additional 34,640 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Tuesday, August 20th. Barclays increased their price target on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley increased their price target on shares of 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, Needham & Company LLC increased their price target on shares of Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average target price of $36.80.

Insider Transactions at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.60% of the company’s stock.

Vir Biotechnology Stock Performance

Shares of Vir Biotechnology stock opened at $7.30 on Friday. Vir Biotechnology, Inc. has a 52-week low of $7.20 and a 52-week high of $13.09. The stock has a market capitalization of $997.47 million, a price-to-earnings ratio of -1.82 and a beta of 0.46. The company’s 50 day moving average price is $8.60 and its 200-day moving average price is $9.29.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $7.53 million. During the same quarter in the prior year, the business posted ($1.45) EPS. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. As a group, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current fiscal year.

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.