Bank of Nova Scotia Has $253,000 Stock Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Posted by on May 26th, 2023

Bank of Nova Scotia reduced its position in Vir Biotechnology, Inc. (NASDAQ:VIR – Get Rating) by 69.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the company’s stock after selling 22,683 shares during the period. Bank of Nova Scotia’s holdings in Vir Biotechnology were worth $253,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VIR. Captrust Financial Advisors increased its position in Vir Biotechnology by 1,270.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 1,690 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Vir Biotechnology during the 1st quarter valued at about $64,000. Royal Bank of Canada increased its holdings in shares of Vir Biotechnology by 14.1% during the 3rd quarter. Royal Bank of Canada now owns 4,125 shares of the company’s stock valued at $79,000 after acquiring an additional 510 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Vir Biotechnology by 3,844.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,773 shares of the company’s stock valued at $92,000 after acquiring an additional 4,652 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Vir Biotechnology during the 4th quarter valued at about $94,000. 74.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VIR has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised Vir Biotechnology from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $35.00 to $34.00 in a report on Monday, March 6th. SVB Leerink decreased their target price on Vir Biotechnology from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, January 27th. Morgan Stanley increased their target price on Vir Biotechnology from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 4th. The Goldman Sachs Group upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and increased their target price for the company from $41.00 to $53.00 in a research note on Tuesday, February 21st. Finally, HC Wainwright decreased their target price on Vir Biotechnology from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, March 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.75.

Insider Buying and Selling

In related news, major shareholder Endurance (Cayman) Ltd Svf sold 104,384 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $26.15, for a total transaction of $2,729,641.60. Following the completion of the transaction, the insider now owns 17,178,585 shares in the company, valued at approximately $449,219,997.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Endurance (Cayman) Ltd Svf sold 104,384 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $26.15, for a total transaction of $2,729,641.60. Following the completion of the sale, the insider now directly owns 17,178,585 shares of the company’s stock, valued at approximately $449,219,997.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Johanna Friedl-Naderer sold 1,482 shares of the firm’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 sale, the chief operating officer now directly owns 148,518 shares of the company’s stock, valued at $3,389,180.76. The disclosure for this sale can be found here. Insiders sold 864,494 shares of company stock worth $22,101,441 in the last 90 days. 18.10% of the stock is owned by company insiders.

Vir Biotechnology Trading Down 1.3 %

Shares of VIR stock opened at $25.77 on Friday. The stock has a 50 day moving average of $24.35 and a two-hundred day moving average of $25.59. Vir Biotechnology, Inc. has a 12 month low of $18.05 and a 12 month high of $31.78. The company has a market capitalization of $3.45 billion, a P/E ratio of -23.43 and a beta of 0.26.

Vir Biotechnology (NASDAQ:VIR – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.20). The business had revenue of $63.00 million during the quarter, compared to the consensus estimate of $50.10 million. The company’s revenue for the quarter was down 94.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.93 EPS. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.8 earnings per share for the current fiscal year.

Vir Biotechnology Profile

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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.

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Institutional Ownership by Quarter for Vir Biotechnology (NASDAQ:VIR)

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