State Street Corp Acquires 530,645 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

State Street Corp raised its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,625,533 shares of the company's stock after buying an additional 530,645 shares during the period. State Street Corp owned about 4.08% of Vir Biotechnology worth $42,135,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VIR. Millennium Management LLC lifted its stake in 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 acquiring an additional 606,804 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Vir Biotechnology by 13.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company's stock valued at $8,496,000 after purchasing an additional 136,087 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Vir Biotechnology by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company's stock worth $7,238,000 after purchasing an additional 6,359 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Vir Biotechnology by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company's stock worth $5,673,000 after buying an additional 58,360 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Vir Biotechnology by 10.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company's stock valued at $2,623,000 after buying an additional 33,473 shares in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock opened at $7.34 on Friday. Vir Biotechnology, Inc. has a 52-week low of $6.56 and a 52-week high of $13.09. The firm has a market capitalization of $1.01 billion, a PE ratio of -1.87 and a beta of 0.49. The company's fifty day moving average price is $8.02 and its two-hundred day moving average price is $8.55.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($1.56) EPS 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 firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.22) EPS. Analysts predict that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VIR shares. HC Wainwright reissued a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Barclays lowered their price target on Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, Needham & Company LLC restated a "buy" rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.40.

Vir Biotechnology 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).