Federated Hermes Inc. Purchases New Stake in Vir Biotechnology, Inc. (NASDAQ:VIR)

Federated Hermes Inc. bought a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,858 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds have also modified their holdings of VIR. Arizona State Retirement System raised its holdings in shares of Vir Biotechnology by 6.0% during the 4th quarter. Arizona State Retirement System now owns 26,271 shares of the company’s stock valued at $264,000 after purchasing an additional 1,476 shares in the last quarter. Fifth Third Bancorp boosted its position in Vir Biotechnology by 69.3% during the third quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock worth $37,000 after purchasing an additional 1,613 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Vir Biotechnology by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock valued at $32,000 after purchasing an additional 1,692 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Vir Biotechnology by 7.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,468 shares of the company’s stock worth $239,000 after buying an additional 1,700 shares during the period. Finally, Maryland State Retirement & Pension System raised its holdings in Vir Biotechnology by 6.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 31,647 shares of the company’s stock worth $297,000 after acquiring an additional 1,894 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Phillip Pang sold 3,321 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at approximately $2,710,312.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Vir Biotechnology news, Director George A. Scangos sold 10,878 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.24, for a total value of $111,390.72. Following the transaction, the director now owns 157,611 shares of the company’s stock, valued at $1,613,936.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Phillip Pang sold 3,321 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the completion of the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at $2,710,312.96. The disclosure for this sale can be found here. Insiders sold 152,831 shares of company stock worth $1,525,844 over the last three months. 15.60% of the stock is currently owned by corporate insiders.

Vir Biotechnology Stock Down 1.6 %

NASDAQ VIR opened at $10.22 on Tuesday. Vir Biotechnology, Inc. has a twelve month low of $7.61 and a twelve month high of $27.48. The stock has a market cap of $1.37 billion, a P/E ratio of -2.55 and a beta of 0.47. The company’s 50-day simple moving average is $9.79 and its 200 day simple moving average is $9.61.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.51. The business had revenue of $56.38 million during the quarter, compared to analysts’ expectations of $11.71 million. Vir Biotechnology had a negative return on equity of 32.58% and a negative net margin of 677.69%. Vir Biotechnology’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.06) EPS. Research analysts anticipate that Vir Biotechnology, Inc. will post -4.04 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on VIR. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, March 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Vir Biotechnology in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.57.

About Vir Biotechnology

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.