Renaissance Technologies LLC Boosts Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Renaissance Technologies LLC raised its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,237,600 shares of the company’s stock after buying an additional 55,300 shares during the period. Renaissance Technologies LLC’s holdings in Vir Biotechnology were worth $9,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after acquiring an additional 530,645 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vir Biotechnology by 0.4% in 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 period. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 118,379 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Vir Biotechnology during the fourth quarter valued at $6,742,000. Finally, Barclays PLC raised its holdings in shares of Vir Biotechnology by 1.3% in the third quarter. Barclays PLC now owns 550,186 shares of the company’s stock valued at $4,121,000 after acquiring an additional 7,287 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VIR has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Thursday, February 27th. Leerink Partners increased their target price on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Barclays lifted their price target on Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group decreased their price objective on Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus target price of $33.57.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the sale, the director now directly owns 708,295 shares of the company’s stock, valued at approximately $6,948,373.95. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Backer Marianne De sold 79,712 shares of Vir Biotechnology stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the transaction, the chief executive officer now owns 769,505 shares of the company’s stock, valued at $4,578,554.75. The trade was a 9.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,611 shares of company stock valued at $663,525 in the last ninety days. Company insiders own 15.60% of the company’s stock.

Vir Biotechnology Stock Performance

Vir Biotechnology stock opened at $5.50 on Friday. The stock has a market cap of $754.29 million, a PE ratio of -1.40 and a beta of 1.14. The stock has a 50-day moving average of $7.33 and a two-hundred day moving average of $8.12. Vir Biotechnology, Inc. has a one year low of $4.95 and a one year high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. The company had revenue of $12.37 million during the quarter, compared to analysts’ expectations of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. As a group, sell-side analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal 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).