Empowered Funds LLC Reduces Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Empowered Funds LLC lessened its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 11.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 290,626 shares of the company’s stock after selling 39,155 shares during the quarter. Empowered Funds LLC’s holdings in Vir Biotechnology were worth $2,133,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after buying an additional 2,351 shares during the last quarter. nVerses Capital LLC purchased a new position in Vir Biotechnology during the 3rd quarter worth approximately $56,000. KBC Group NV grew its stake in Vir Biotechnology by 136.5% during the 4th quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after buying an additional 5,177 shares during the last quarter. Captrust Financial Advisors purchased a new position in Vir Biotechnology during the 3rd quarter worth approximately $118,000. Finally, Quarry LP grew its stake in Vir Biotechnology by 901.8% during the 3rd quarter. Quarry LP now owns 17,000 shares of the company’s stock worth $127,000 after buying an additional 15,303 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VIR shares. Barclays lowered their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Leerink Partners lifted their target price on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, January 31st. Finally, Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.83.

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the transaction, the director now directly owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 12,598 shares of company stock worth $152,136 over the last three months. 15.60% of the stock is currently owned by corporate insiders.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $9.65 on Friday. Vir Biotechnology, Inc. has a 1-year low of $6.56 and a 1-year high of $14.45. The company has a market cap of $1.33 billion, a PE ratio of -2.46 and a beta of 0.64. The stock’s 50 day moving average price is $9.13 and its 200 day moving average price is $8.48.

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).