BlackRock Inc. Invests $210.71 Million in Vir Biotechnology, Inc. $VIR

BlackRock Inc. bought a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,678,283 shares of the company’s stock, valued at approximately $210,712,000. BlackRock Inc. owned approximately 0.12% of Vir Biotechnology at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its holdings in Vir Biotechnology by 10,878.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company’s stock valued at $13,268,000 after buying an additional 1,467,340 shares during the period. Candriam S.C.A. lifted its position in Vir Biotechnology by 10.1% in the first quarter. Candriam S.C.A. now owns 1,135,763 shares of the company’s stock worth $10,176,000 after buying an additional 104,100 shares during the last quarter. UBS Group AG boosted its stake in Vir Biotechnology by 94.6% during the fourth quarter. UBS Group AG now owns 417,965 shares of the company’s stock worth $2,520,000 after buying an additional 203,203 shares during the period. Avidity Partners Management LP purchased a new position in Vir Biotechnology during the first quarter worth $8,512,000. Finally, OP Asset Management Ltd bought a new position in Vir Biotechnology during the first quarter valued at $1,013,000. Institutional investors own 65.32% of the company’s stock.

Insider Transactions at Vir Biotechnology

In other news, Director Janet Napolitano sold 3,200 shares of Vir Biotechnology stock in a transaction on Monday, June 1st. The stock was sold at an average price of $9.45, for a total value of $30,240.00. Following the transaction, the director directly owned 21,216 shares in the company, valued at approximately $200,491.20. This trade represents a 13.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

VIR has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating on shares of Vir Biotechnology in a research note on Monday, August 10th. Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. Leerink Partners increased their price objective on shares of Vir Biotechnology from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.57.

Vir Biotechnology Stock Performance

NASDAQ:VIR opened at $11.31 on Friday. The firm has a 50-day simple moving average of $9.56 and a 200-day simple moving average of $9.29. Vir Biotechnology, Inc. has a one year low of $4.75 and a one year high of $11.66. The firm has a market cap of $1.91 billion, a P/E ratio of -6.08 and a beta of 1.66.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The firm had revenue of $238.95 million for the quarter, compared to the consensus estimate of $135.88 million. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 29.99%. The company’s quarterly revenue was up 19582.5% on a year-over-year basis. During the same period last year, the firm earned ($0.80) earnings per share. On average, research analysts predict that Vir Biotechnology, Inc. will post -1.84 EPS 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.