Allspring Global Investments Holdings LLC grew its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR – Free Report) by 39.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,551 shares of the company’s stock after purchasing an additional 55,209 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.15% of Vir Biotechnology worth $4,550,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Vir Biotechnology by 8.3% during the third quarter. BlackRock Inc. now owns 13,873,726 shares of the company’s stock valued at $267,486,000 after purchasing an additional 1,062,036 shares during the period. Vanguard Group Inc. boosted its stake in shares of Vir Biotechnology by 21.1% during the third quarter. Vanguard Group Inc. now owns 9,928,416 shares of the company’s stock valued at $191,420,000 after purchasing an additional 1,731,172 shares during the period. Temasek Holdings Private Ltd boosted its stake in shares of Vir Biotechnology by 7.8% during the third quarter. Temasek Holdings Private Ltd now owns 6,036,821 shares of the company’s stock valued at $116,390,000 after purchasing an additional 434,268 shares during the period. State Street Corp boosted its stake in shares of Vir Biotechnology by 5.6% during the third quarter. State Street Corp now owns 5,830,417 shares of the company’s stock valued at $112,410,000 after purchasing an additional 311,279 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Vir Biotechnology by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 2,353,859 shares of the company’s stock valued at $59,576,000 after purchasing an additional 19,541 shares during the period. 65.37% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, major shareholder Endurance (Cayman) Ltd Svf sold 10,524 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $25.06, for a total value of $263,731.44. Following the transaction, the insider now owns 18,299,849 shares in the company, valued at approximately $458,594,215.94. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Phillip Pang sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $25.95, for a total transaction of $129,750.00. Following the sale, the insider now owns 188,000 shares of the company’s stock, valued at approximately $4,878,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Endurance (Cayman) Ltd Svf sold 10,524 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $25.06, for a total value of $263,731.44. Following the transaction, the insider now owns 18,299,849 shares in the company, valued at approximately $458,594,215.94. The disclosure for this sale can be found here. Insiders have sold a total of 1,089,960 shares of company stock worth $28,157,550 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Vir Biotechnology Stock Performance
VIR stock opened at $24.62 on Wednesday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -22.38 and a beta of 0.20. The firm has a 50-day simple moving average of $25.35 and a two-hundred day simple moving average of $25.35. Vir Biotechnology, Inc. has a one year low of $18.05 and a one year high of $31.78.
Vir Biotechnology (NASDAQ:VIR – Free Report) last released its quarterly earnings results on Thursday, May 4th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.20). The business had revenue of $63.00 million for the quarter, compared to analyst estimates of $50.10 million. The business’s revenue was down 94.9% on a year-over-year basis. During the same period last year, the firm posted $3.93 earnings per share. As a group, equities analysts predict that Vir Biotechnology, Inc. will post -3.8 earnings per share for the current fiscal year.
Vir Biotechnology Profile
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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