Y Intercept Hong Kong Ltd Reduces Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Y Intercept Hong Kong Ltd reduced its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) by 78.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,455 shares of the company's stock after selling 81,494 shares during the period. Y Intercept Hong Kong Ltd's holdings in Vir Biotechnology were worth $168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Vir Biotechnology by 10.4% in the 3rd 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. Quarry LP raised its position 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. Jacobs Levy Equity Management Inc. lifted its stake in Vir Biotechnology by 10.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company's stock worth $2,623,000 after purchasing an additional 33,473 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Vir Biotechnology during the third quarter valued at about $217,000. Finally, PDT Partners LLC grew its stake 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 buying an additional 56,494 shares during the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Vir Biotechnology Stock Performance

Shares of NASDAQ VIR traded down $0.03 during trading on Friday, hitting $7.34. The company had a trading volume of 3,745,310 shares, compared to its average volume of 1,084,083. Vir Biotechnology, Inc. has a 12 month low of $6.56 and a 12 month high of $13.09. The stock has a 50 day simple moving average of $8.02 and a 200 day simple moving average of $8.55. The firm has a market capitalization of $1.01 billion, a P/E ratio of -1.87 and a beta of 0.49.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. During the same quarter in the prior year, the business earned ($1.22) earnings per share. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. As a group, analysts predict that Vir Biotechnology, Inc. will post -3.36 EPS for the current year.

Wall Street Analysts Forecast Growth

VIR has been the subject of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Barclays lowered their price objective 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.40.

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).