Rafferty Asset Management LLC Sells 126,347 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Rafferty Asset Management LLC cut its stake in Vir Biotechnology, Inc. (NASDAQ:VIRFree Report) by 24.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,970 shares of the company’s stock after selling 126,347 shares during the period. Rafferty Asset Management LLC owned approximately 0.30% of Vir Biotechnology worth $4,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in shares of Vir Biotechnology by 18.1% during the 3rd quarter. Victory Capital Management Inc. now owns 123,030 shares of the company’s stock worth $1,153,000 after purchasing an additional 18,882 shares in the last quarter. Jump Financial LLC increased its holdings in Vir Biotechnology by 257.2% in the 3rd quarter. Jump Financial LLC now owns 50,263 shares of the company’s stock valued at $471,000 after buying an additional 36,192 shares during the period. Barclays PLC raised its stake in shares of Vir Biotechnology by 124.6% in the 3rd quarter. Barclays PLC now owns 412,161 shares of the company’s stock valued at $3,863,000 after buying an additional 228,634 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Vir Biotechnology by 8.1% during the 3rd quarter. Amalgamated Bank now owns 33,629 shares of the company’s stock worth $315,000 after acquiring an additional 2,511 shares during the period. Finally, Swiss National Bank boosted its position in shares of Vir Biotechnology by 1.1% during the 3rd quarter. Swiss National Bank now owns 191,500 shares of the company’s stock valued at $1,794,000 after acquiring an additional 2,000 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Stock Performance

Shares of VIR stock opened at $11.23 on Friday. The stock’s fifty day moving average is $9.62 and its 200-day moving average is $9.91. Vir Biotechnology, Inc. has a 52 week low of $7.61 and a 52 week high of $27.48.

Vir Biotechnology (NASDAQ:VIRGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The firm had revenue of $56.38 million during the quarter, compared to analysts’ expectations of $11.71 million. During the same quarter last year, the company posted ($1.06) EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts predict that Vir Biotechnology, Inc. will post -3.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ann M. Hanly sold 2,711 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the transaction, the executive vice president now owns 132,069 shares of the company’s stock, valued at $1,327,293.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann M. Hanly sold 2,711 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.05, for a total transaction of $27,245.55. Following the sale, the executive vice president now owns 132,069 shares of the company’s stock, valued at approximately $1,327,293.45. The disclosure for this sale can be found here. Insiders sold 81,714 shares of company stock worth $777,197 in the last quarter. Insiders own 15.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VIR shares. Needham & Company LLC upped their price objective on Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley increased their target price on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.14.

Read Our Latest Analysis on VIR

About Vir Biotechnology

(Free Report)

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.

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

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