Point72 Asset Management L.P. Sells 12,385 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Point72 Asset Management L.P. lessened its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 70.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,215 shares of the company’s stock after selling 12,385 shares during the quarter. Point72 Asset Management L.P.’s holdings in Vir Biotechnology were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VIR. Jacobs Levy Equity Management Inc. increased its position in Vir Biotechnology by 10.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company’s stock valued at $2,623,000 after acquiring an additional 33,473 shares during the period. Erste Asset Management GmbH acquired a new stake in Vir Biotechnology in the third quarter valued at $217,000. PDT Partners LLC raised its position in Vir Biotechnology by 34.4% during the 3rd quarter. PDT Partners LLC now owns 220,821 shares of the company’s stock worth $1,654,000 after purchasing an additional 56,494 shares during the last quarter. Verition Fund Management LLC acquired a new position in Vir Biotechnology during the 3rd quarter worth about $395,000. Finally, Captrust Financial Advisors bought a new stake in shares of Vir Biotechnology in the 3rd quarter valued at about $118,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VIR has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Barclays decreased their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Price Performance

NASDAQ VIR opened at $7.45 on Friday. The stock has a market capitalization of $1.03 billion, a P/E ratio of -1.90 and a beta of 0.49. The business has a 50 day simple moving average of $8.03 and a 200 day simple moving average of $8.65. Vir Biotechnology, Inc. has a one year low of $6.56 and a one year high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. During the same period last year, the business earned ($1.22) EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts expect that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current 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).