CIBC Asset Management Inc Takes $74,000 Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

CIBC Asset Management Inc purchased a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,132 shares of the company’s stock, valued at approximately $74,000.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after acquiring an additional 2,351 shares during the last quarter. KBC Group NV raised its stake in shares of Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock valued at $66,000 after acquiring an additional 5,177 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Vir Biotechnology during the third quarter valued at $118,000. Quarry LP raised its stake in shares of Vir Biotechnology by 901.8% during the third quarter. Quarry LP now owns 17,000 shares of the company’s stock valued at $127,000 after acquiring an additional 15,303 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Vir Biotechnology during the third quarter valued at $138,000. Institutional investors own 65.32% of the company’s stock.

Wall Street Analysts Forecast Growth

VIR has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Barclays lowered their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Finally, Leerink Partners lifted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $34.83.

Insiders Place Their Bets

In other news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares in the company, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,562 shares of company stock worth $259,693. 15.60% of the stock is currently owned by company insiders.

Vir Biotechnology Trading Up 1.1 %

NASDAQ:VIR opened at $9.20 on Thursday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.35 and a beta of 0.63. The firm has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $8.50. Vir Biotechnology, Inc. has a 12 month low of $6.56 and a 12 month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly 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. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Equities analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

About Vir Biotechnology

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).