Mitsubishi UFJ Asset Management Co. Ltd. Acquires 3,209 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,290 shares of the company’s stock after purchasing an additional 3,209 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Vir Biotechnology were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vir Biotechnology in the fourth quarter valued at about $42,000. GAMMA Investing LLC raised its holdings in shares of Vir Biotechnology by 524.3% in the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company’s stock valued at $46,000 after acquiring an additional 5,972 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Vir Biotechnology by 26.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock valued at $68,000 after acquiring an additional 2,171 shares in the last quarter. Syon Capital LLC bought a new stake in shares of Vir Biotechnology in the fourth quarter valued at about $77,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Vir Biotechnology in the fourth quarter valued at about $84,000. 65.32% of the stock is currently owned by institutional investors.

Vir Biotechnology Stock Performance

Shares of VIR stock opened at $4.44 on Friday. Vir Biotechnology, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $14.45. The firm has a market capitalization of $616.80 million, a price-to-earnings ratio of -1.11 and a beta of 1.18. The stock’s 50-day simple moving average is $5.24 and its 200-day simple moving average is $6.31.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%. The business had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $2.38 million. During the same quarter in the previous year, the firm posted ($1.02) EPS. Vir Biotechnology’s revenue was down 60.5% on a year-over-year basis. As a group, equities analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In other news, EVP Mark Eisner sold 6,796 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total transaction of $37,174.12. Following the sale, the executive vice president owned 108,204 shares in the company, valued at approximately $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $4.99, for a total value of $109,780.00. Following the sale, the director owned 1,276,391 shares in the company, valued at $6,369,191.09. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,582 shares of company stock worth $294,930 in the last 90 days. Insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Raymond James Financial began coverage on Vir Biotechnology in a research note on Friday, July 11th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Vir Biotechnology in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.25.

Vir Biotechnology Company 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).