Charles Schwab Investment Management Inc. Increases Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Charles Schwab Investment Management Inc. grew its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,252,655 shares of the company's stock after purchasing an additional 118,379 shares during the period. Charles Schwab Investment Management Inc. owned about 0.91% of Vir Biotechnology worth $9,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in Vir Biotechnology by 10.4% during the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company's stock valued at $42,135,000 after buying an additional 530,645 shares during the period. Alta Partners Management Company L.P. purchased a new position in shares of Vir Biotechnology during the 4th quarter worth approximately $3,593,000. abrdn plc purchased a new position in shares of Vir Biotechnology in the 4th quarter valued at approximately $2,666,000. PDT Partners LLC boosted its position in shares of Vir Biotechnology by 34.4% during the third quarter. PDT Partners LLC now owns 220,821 shares of the company's stock valued at $1,654,000 after purchasing an additional 56,494 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Vir Biotechnology in the third quarter worth $395,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VIR has been the subject of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price target on shares of Vir Biotechnology in a research note on Thursday, February 27th. Morgan Stanley raised Vir Biotechnology from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. Leerink Partners boosted their target price on Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. HC Wainwright reiterated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, February 28th. Finally, Barclays raised their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.67.

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Vir Biotechnology Trading Down 5.2 %

VIR stock traded down $0.36 on Wednesday, hitting $6.59. The company had a trading volume of 1,242,107 shares, compared to its average volume of 1,284,511. Vir Biotechnology, Inc. has a 12-month low of $6.53 and a 12-month high of $14.45. The stock has a market cap of $903.77 million, a price-to-earnings ratio of -1.68 and a beta of 1.17. The stock's 50-day simple moving average is $9.02 and its 200 day simple moving average is $8.38.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.85) by $0.09. The firm had revenue of $12.37 million for the quarter, compared to the consensus estimate of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Research analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the transaction, the director now owns 1,312,391 shares in the company, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Verneuil Vanina De sold 7,373 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total value of $67,389.22. Following the completion of the sale, the executive vice president now owns 79,460 shares of the company's stock, valued at $726,264.40. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,859 shares of company stock worth $326,458 in the last three months. 15.60% of the stock is currently owned by company insiders.

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).