Avidity Partners Management LP Invests $8.51 Million in Vir Biotechnology, Inc. $VIR

Avidity Partners Management LP acquired a new stake in Vir Biotechnology, Inc. (NASDAQ:VIR) in the first quarter, Holdings Channel.com reports. The fund acquired 950,000 shares of the company’s stock, valued at approximately $8,512,000. Vir Biotechnology makes up approximately 1.7% of Avidity Partners Management LP’s portfolio, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Vir Biotechnology during the 2nd quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vir Biotechnology by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company’s stock valued at $41,000 after purchasing an additional 1,390 shares during the period. UMB Bank n.a. grew its holdings in shares of Vir Biotechnology by 1,418.7% in the fourth quarter. UMB Bank n.a. now owns 7,062 shares of the company’s stock valued at $43,000 after purchasing an additional 6,597 shares in the last quarter. CWM LLC grew its stake in shares of Vir Biotechnology by 23.0% in the fourth quarter. CWM LLC now owns 8,804 shares of the company’s stock worth $53,000 after acquiring an additional 1,646 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Vir Biotechnology in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VIR shares. Wall Street Zen cut Vir Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Wednesday, July 8th. Leerink Partners boosted their price objective on Vir Biotechnology from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Morgan Stanley upped their target price on shares of Vir Biotechnology from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $20.88.

Insider Transactions at Vir Biotechnology

In related news, Director Janet Napolitano sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.45, for a total transaction of $30,240.00. Following the transaction, the director owned 21,216 shares in the company, valued at $200,491.20. This trade represents a 13.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by corporate insiders.

Vir Biotechnology Stock Down 2.7%

Shares of Vir Biotechnology stock opened at $8.66 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of -2.77 and a beta of 1.62. Vir Biotechnology, Inc. has a 52 week low of $4.16 and a 52 week high of $11.66. The firm’s 50 day moving average is $9.33 and its two-hundred day moving average is $8.95.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Wednesday, May 6th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.84). Vir Biotechnology had a negative return on equity of 53.31% and a negative net margin of 638.88%.The firm had revenue of ($0.03) million for the quarter, compared to analyst estimates of $55.49 million. During the same quarter last year, the firm posted ($0.88) EPS. As a group, research analysts expect that Vir Biotechnology, Inc. will post -1.81 earnings per share for the current fiscal year.

Vir Biotechnology Profile

Vir Biotechnology, Inc is a clinical?stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell?based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID?19, HIV, hepatitis B, and tuberculosis.