Verition Fund Management LLC Invests $321,000 in Vir Biotechnology, Inc. (NASDAQ:VIR)

Posted by Defense World Staff on Mar 9th, 2023

Verition Fund Management LLC purchased a new position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 16,646 shares of the company’s stock, valued at approximately $321,000.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE boosted its stake in Vir Biotechnology by 175.1% during the 2nd quarter. US Bancorp DE now owns 982 shares of the company’s stock worth $25,000 after acquiring an additional 625 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Vir Biotechnology by 127.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the company’s stock worth $25,000 after acquiring an additional 560 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in Vir Biotechnology during the 3rd quarter worth approximately $25,000. SeaCrest Wealth Management LLC bought a new position in Vir Biotechnology during the 2nd quarter worth approximately $36,000. Finally, Captrust Financial Advisors boosted its stake in Vir Biotechnology by 1,270.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,823 shares of the company’s stock worth $46,000 after acquiring an additional 1,690 shares during the last quarter. Institutional investors and hedge funds own 74.97% of the company’s stock.

Insider Buying and Selling

In related news, COO Johanna Friedl-Naderer sold 1,482 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $22.82, for a total transaction of $33,819.24. Following the transaction, the chief operating officer now directly owns 148,518 shares in the company, valued at $3,389,180.76. The sale was disclosed in a filing with the SEC, which is available through this link. In other Vir Biotechnology news, COO Johanna Friedl-Naderer sold 1,482 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $22.82, for a total value of $33,819.24. Following the transaction, the chief operating officer now directly owns 148,518 shares in the company, valued at $3,389,180.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Endurance (Cayman) Ltd Svf sold 95,144 shares of the company’s stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $26.07, for a total transaction of $2,480,404.08. Following the completion of the transaction, the insider now owns 20,390,635 shares in the company, valued at $531,583,854.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,429,115 shares of company stock worth $38,830,984. Insiders own 22.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on VIR. HC Wainwright cut their price target on shares of Vir Biotechnology from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Vir Biotechnology in a research note on Friday, February 24th. SVB Leerink cut their price target on shares of Vir Biotechnology from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, January 27th. JPMorgan Chase & Co. raised shares of Vir Biotechnology from a “neutral” rating to an “overweight” rating and cut their price target for the company from $35.00 to $34.00 in a research note on Monday. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $18.00 to $30.00 in a research note on Friday, January 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average target price of $51.29.

Vir Biotechnology Stock Down 0.6 %

Shares of VIR stock opened at $22.66 on Thursday. The company’s fifty day simple moving average is $26.44 and its 200-day simple moving average is $24.61. The firm has a market cap of $3.03 billion, a PE ratio of 5.95 and a beta of 0.26. Vir Biotechnology, Inc. has a 12 month low of $18.05 and a 12 month high of $31.78.

Vir Biotechnology (NASDAQ:VIR – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.72). The company had revenue of $49.40 million for the quarter, compared to analyst estimates of $134.24 million. The company’s revenue was down 93.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.92 EPS. On average, equities analysts predict that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current fiscal year.

About Vir Biotechnology

(Get Rating)

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus.