Pictet Asset Management Holding SA lowered its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR – Free Report) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,904,758 shares of the company’s stock after selling 48,558 shares during the period. Pictet Asset Management Holding SA owned 1.13% of Vir Biotechnology worth $21,295,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Vir Biotechnology in the second quarter valued at approximately $210,712,000. ARCH Venture Management LLC acquired a new stake in shares of Vir Biotechnology in the second quarter valued at approximately $129,353,521. ADAR1 Capital Management LLC acquired a new stake in shares of Vir Biotechnology in the second quarter valued at approximately $25,034,000. Dimensional Fund Advisors LP lifted its position in shares of Vir Biotechnology by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,579,678 shares of the company’s stock valued at $23,107,000 after buying an additional 43,401 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Vir Biotechnology during the 2nd quarter worth approximately $11,642,000. Institutional investors own 65.32% of the company’s stock.
Trending Headlines about Vir Biotechnology
Investors following VIR have been watching these headlines:
- Positive Sentiment: Morgan Stanley raised its price target to $28 and retained an Overweight rating. Recent coverage also highlighted Vir’s hepatitis D drug results in Phase II and Phase III trials, a key potential driver behind investor interest. Hepatitis D trial coverage
- Neutral Sentiment: One article considers whether VIR remains attractively valued after a reported 127% run, reflecting debate about how much of the positive outlook is already priced in. Valuation discussion
- Negative Sentiment: The sharp prior rally may leave the stock vulnerable if expectations for Vir’s clinical pipeline or future financial performance are not met; the company is still expected to report losses.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on VIR shares. Raymond James Financial reissued a “strong-buy” rating on shares of Vir Biotechnology in a report on Monday, September 28th. Needham & Company LLC raised their price target on Vir Biotechnology from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vir Biotechnology in a report on Friday, October 2nd. Wall Street Zen raised shares of Vir Biotechnology from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Vir Biotechnology in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.57.
Get Our Latest Report on Vir Biotechnology
Insider Activity at Vir Biotechnology
In other news, EVP Vanina de Verneuil sold 2,407 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $11.10, for a total transaction of $26,717.70. Following the transaction, the executive vice president owned 110,193 shares in the company, valued at approximately $1,223,142.30. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.90% of the company’s stock.
Vir Biotechnology Stock Performance
Shares of VIR opened at $13.13 on Thursday. The firm has a market cap of $2.25 billion, a P/E ratio of -10.42 and a beta of 1.70. Vir Biotechnology, Inc. has a 52 week low of $5.32 and a 52 week high of $14.38. The firm’s 50-day simple moving average is $11.16 and its 200 day simple moving average is $9.71.
Vir Biotechnology (NASDAQ:VIR – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.18. The company had revenue of ($0.19) million for the quarter, compared to analyst estimates of $0.98 million. During the same quarter last year, the business earned ($1.17) earnings per share. The company’s revenue was down 178.3% on a year-over-year basis. As a group, equities analysts forecast that Vir Biotechnology, Inc. will post -1.28 earnings per share for the current year.
Vir Biotechnology Profile
Vir Biotechnology is a clinical-stage biopharmaceutical company focused on developing treatments for infectious diseases and cancer. Its research draws on immunology and includes approaches such as monoclonal antibodies, small-interfering RNA therapies and T-cell-based treatments. The company’s pipeline has included programs targeting chronic hepatitis B and influenza, as well as investigational cancer therapies. Vir has also pursued research and development collaborations to advance its programs.
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