Nordea Investment Management AB Reduces Stock Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Nordea Investment Management AB reduced its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 67.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,487 shares of the company's stock after selling 286,600 shares during the quarter. Nordea Investment Management AB owned approximately 0.10% of Vir Biotechnology worth $1,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of Vir Biotechnology by 94.6% in the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company's stock valued at $11,108,000 after purchasing an additional 606,804 shares during the last quarter. State Street Corp lifted its position in Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company's stock worth $42,135,000 after acquiring an additional 530,645 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Vir Biotechnology by 19,327.1% in the second quarter. Federated Hermes Inc. now owns 300,148 shares of the company's stock valued at $2,671,000 after purchasing an additional 298,603 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in shares of Vir Biotechnology in the second quarter valued at approximately $1,780,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Vir Biotechnology by 6,402.0% during the second quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company's stock worth $1,679,000 after purchasing an additional 185,723 shares during the period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the sale, the director now directly owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 14,786 shares of company stock valued at $170,172. Corporate insiders own 15.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VIR shares. HC Wainwright restated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday. Barclays dropped their price target on Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. 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. JPMorgan Chase & Co. upped their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Needham & Company LLC restated a "buy" rating and issued a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Vir Biotechnology currently has a consensus rating of "Moderate Buy" and an average target price of $37.80.

Vir Biotechnology Stock Performance

VIR traded down $1.10 during midday trading on Monday, reaching $11.00. The company had a trading volume of 753,773 shares, compared to its average volume of 7,210,807. The business has a 50-day moving average price of $8.24 and a two-hundred day moving average price of $8.35. Vir Biotechnology, Inc. has a 12-month low of $6.56 and a 12-month high of $14.45. The stock has a market cap of $1.51 billion, a PE ratio of -2.81 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.38 million for the quarter, compared to analysts' expectations of $5.54 million. During the same quarter last year, the firm earned ($1.22) earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts anticipate that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current year.

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).