Empowered Funds LLC Sells 163,723 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Empowered Funds LLC cut its position in Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 33.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,781 shares of the company's stock after selling 163,723 shares during the quarter. Empowered Funds LLC owned 0.24% of Vir Biotechnology worth $2,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in VIR. Louisiana State Employees Retirement System raised its stake in Vir Biotechnology by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company's stock worth $390,000 after acquiring an additional 1,200 shares in the last quarter. ProShare Advisors LLC lifted its stake in Vir Biotechnology by 8.4% in the 1st quarter. ProShare Advisors LLC now owns 26,392 shares of the company's stock valued at $267,000 after purchasing an additional 2,035 shares during the last quarter. Blue Trust Inc. lifted its stake in Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company's stock valued at $30,000 after purchasing an additional 2,351 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vir Biotechnology by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,647 shares of the company's stock valued at $219,000 after buying an additional 3,215 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Vir Biotechnology during the second quarter worth $32,000. Institutional investors own 65.32% of the company's stock.

Vir Biotechnology Trading Down 0.1 %

NASDAQ VIR traded down $0.01 on Wednesday, hitting $6.92. 622,423 shares of the company were exchanged, compared to its average volume of 1,036,992. The company has a market cap of $953.02 million, a PE ratio of -1.71 and a beta of 0.46. The stock has a fifty day moving average of $7.97 and a 200-day moving average of $8.92. Vir Biotechnology, Inc. has a 12 month low of $6.62 and a 12 month high of $13.09.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings results 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). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. During the same period last year, the firm posted ($1.22) earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts expect that Vir Biotechnology, Inc. will post -3.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on VIR shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Wednesday. Finally, Barclays lowered their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $36.40.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now directly owns 11,616 shares of the company's stock, valued at $90,604.80. The trade was a 51.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 15,940 shares of company stock valued at $127,410. Corporate insiders own 15.60% of the company's stock.

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).