Bank of New York Mellon Corp Sells 38,216 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Bank of New York Mellon Corp lowered its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 604,067 shares of the company's stock after selling 38,216 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.44% of Vir Biotechnology worth $4,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KBC Group NV increased its position in shares of Vir Biotechnology by 136.5% during the 4th quarter. KBC Group NV now owns 8,970 shares of the company's stock valued at $66,000 after purchasing an additional 5,177 shares during the last quarter. CIBC Asset Management Inc bought a new position in Vir Biotechnology in the 4th quarter worth approximately $74,000. Captrust Financial Advisors bought a new position in Vir Biotechnology in the 3rd quarter worth approximately $118,000. Quarry LP boosted its stake in Vir Biotechnology by 901.8% in the 3rd quarter. Quarry LP now owns 17,000 shares of the company's stock worth $127,000 after purchasing an additional 15,303 shares during the period. Finally, Quantbot Technologies LP bought a new position in Vir Biotechnology in the 3rd quarter worth approximately $138,000. Hedge funds and other institutional investors own 65.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VIR. JPMorgan Chase & Co. upped their price target on Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, January 9th. Needham & Company LLC reiterated a "buy" rating and set a $19.00 target price on shares of Vir Biotechnology in a research report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, February 28th. Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. Finally, Leerink Partners increased their target price on Vir Biotechnology from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Vir Biotechnology currently has an average rating of "Moderate Buy" and a consensus price target of $35.67.

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Vir Biotechnology Trading Up 0.9 %

NASDAQ:VIR traded up $0.06 during midday trading on Friday, hitting $6.93. 2,903,576 shares of the company traded hands, compared to its average volume of 1,276,960. The firm's fifty day moving average is $9.15 and its 200-day moving average is $8.38. Vir Biotechnology, Inc. has a 12-month low of $6.56 and a 12-month high of $14.45. The firm has a market capitalization of $950.40 million, a P/E ratio of -1.77 and a beta of 1.17.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.09. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $12.37 million for the quarter, compared to analyst estimates of $8.14 million. On average, research analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director George A. Scangos sold 10,964 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total transaction of $107,556.84. Following the transaction, the director now owns 708,295 shares in the company, valued at approximately $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total value of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares in the company, valued at approximately $726,264.40. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,859 shares of company stock worth $326,458 over the last quarter. Company insiders own 15.60% of the company's stock.

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).