Nuveen Asset Management LLC Trims Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Nuveen Asset Management LLC lowered its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 31.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 359,572 shares of the company’s stock after selling 162,291 shares during the period. Nuveen Asset Management LLC’s holdings in Vir Biotechnology were worth $2,639,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VIR. Geode Capital Management LLC lifted its holdings in Vir Biotechnology by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,196,601 shares of the company’s stock worth $16,127,000 after buying an additional 7,827 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Vir Biotechnology by 58.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock valued at $14,059,000 after buying an additional 703,360 shares during the last quarter. Millennium Management LLC raised its stake in Vir Biotechnology by 55.3% during the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock worth $12,589,000 after acquiring an additional 610,367 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Vir Biotechnology by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,252,655 shares of the company’s stock worth $9,194,000 after acquiring an additional 118,379 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Vir Biotechnology by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,237,600 shares of the company’s stock valued at $9,084,000 after acquiring an additional 55,300 shares during the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vir Biotechnology

In other news, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the sale, the chief executive officer now directly owns 769,505 shares of the company’s stock, valued at $4,578,554.75. This represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on VIR. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Vir Biotechnology in a report on Thursday, May 22nd. Barclays upped their price target on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright restated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.86.

Vir Biotechnology Price Performance

Shares of VIR opened at $5.07 on Tuesday. The company has a 50-day moving average of $5.47 and a two-hundred day moving average of $7.48. The stock has a market cap of $700.87 million, a price-to-earnings ratio of -1.29 and a beta of 1.36. Vir Biotechnology, Inc. has a one year low of $4.32 and a one year high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. During the same period in the previous year, the business posted ($0.48) EPS. Vir Biotechnology’s revenue was down 94.6% compared to the same quarter last year. Analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Vir Biotechnology Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).