Bank of Nova Scotia Buys 5,189 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Bank of Nova Scotia raised its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIRGet Rating) by 21.3% during the 2nd quarter, Holdings Channel reports. The fund owned 29,550 shares of the company’s stock after purchasing an additional 5,189 shares during the period. Bank of Nova Scotia’s holdings in Vir Biotechnology were worth $753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Vir Biotechnology by 65.9% during the 1st quarter. State Street Corp now owns 4,193,764 shares of the company’s stock valued at $107,864,000 after purchasing an additional 1,665,657 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vir Biotechnology by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,758,397 shares of the company’s stock valued at $199,546,000 after purchasing an additional 428,266 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Vir Biotechnology during the 1st quarter valued at $8,460,000. Dimensional Fund Advisors LP lifted its holdings in shares of Vir Biotechnology by 91.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 612,336 shares of the company’s stock valued at $15,749,000 after purchasing an additional 291,785 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Vir Biotechnology by 235.5% during the 1st quarter. UBS Group AG now owns 321,053 shares of the company’s stock valued at $8,258,000 after purchasing an additional 225,346 shares during the last quarter. Institutional investors own 64.55% of the company’s stock.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, major shareholder Endurance (Cayman) Ltd Svf sold 132,978 shares of Vir Biotechnology stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $27.22, for a total transaction of $3,619,661.16. Following the completion of the transaction, the insider now owns 21,953,302 shares in the company, valued at approximately $597,568,880.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Endurance (Cayman) Ltd Svf sold 132,978 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $27.22, for a total transaction of $3,619,661.16. Following the sale, the insider now directly owns 21,953,302 shares in the company, valued at approximately $597,568,880.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicki L. Sato sold 17,915 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $20.67, for a total value of $370,303.05. Following the sale, the director now owns 1,416,919 shares in the company, valued at $29,287,715.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,896 shares of company stock worth $6,248,057. Insiders own 22.40% of the company’s stock.

Vir Biotechnology Stock Performance

NASDAQ VIR opened at $27.02 on Friday. The stock has a 50-day simple moving average of $22.09 and a two-hundred day simple moving average of $24.42. The firm has a market capitalization of $3.60 billion, a P/E ratio of 3.18 and a beta of -0.01. Vir Biotechnology, Inc. has a fifty-two week low of $18.05 and a fifty-two week high of $58.00.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on Vir Biotechnology from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, November 4th. TheStreet upgraded Vir Biotechnology from a “d” rating to a “c-” rating in a research note on Monday, October 10th. Needham & Company LLC reduced their target price on Vir Biotechnology from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Barclays reduced their target price on Vir Biotechnology to $67.00 in a research note on Monday, August 15th. Finally, SVB Leerink raised their target price on Vir Biotechnology from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.50.

Vir Biotechnology Company 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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