Geode Capital Management LLC Raises Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Geode Capital Management LLC increased its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,188,774 shares of the company’s stock after purchasing an additional 5,146 shares during the quarter. Geode Capital Management LLC’s holdings in Vir Biotechnology were worth $16,396,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its position in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after buying an additional 2,351 shares in the last quarter. nVerses Capital LLC acquired a new position in Vir Biotechnology in the 3rd quarter valued at about $56,000. Magnetar Financial LLC purchased a new position in Vir Biotechnology in the 2nd quarter valued at about $95,000. Quest Partners LLC boosted its stake in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after purchasing an additional 7,452 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Vir Biotechnology in the third quarter valued at approximately $118,000. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Stock Up 0.9 %

VIR stock opened at $7.47 on Monday. The business has a fifty day simple moving average of $7.99 and a 200-day simple moving average of $8.37. Vir Biotechnology, Inc. has a 52 week low of $6.56 and a 52 week high of $13.09. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -1.91 and a beta of 0.49.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data 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 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 in the prior year, the firm earned ($1.22) earnings per share. As a group, analysts expect that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on VIR shares. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Barclays decreased their price target 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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).