Verition Fund Management LLC Purchases Shares of 52,794 Vir Biotechnology, Inc. (NASDAQ:VIR)

Verition Fund Management LLC purchased a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,794 shares of the company’s stock, valued at approximately $395,000.

Several other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Vir Biotechnology by 94.6% during the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after buying an additional 606,804 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Vir Biotechnology by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after buying an additional 136,087 shares during the period. Bank of New York Mellon Corp boosted 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 buying an additional 6,359 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Vir Biotechnology by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock worth $5,673,000 after purchasing an additional 58,360 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Vir Biotechnology by 19,327.1% during the second quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock worth $2,671,000 after purchasing an additional 298,603 shares during the period. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VIR has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. Barclays dropped their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Price Performance

VIR stock opened at $7.43 on Friday. Vir Biotechnology, Inc. has a 1 year low of $6.56 and a 1 year high of $13.09. The company has a market cap of $1.02 billion, a P/E ratio of -1.90 and a beta of 0.49. The firm has a 50-day moving average of $8.03 and a 200 day moving average of $8.67.

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

About Vir Biotechnology

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).