Legal & General Group Plc Buys New Shares in Vir Biotechnology, Inc. $VIR

Legal & General Group Plc bought a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 270,875 shares of the company’s stock, valued at approximately $2,760,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Vir Biotechnology in the second quarter valued at approximately $210,712,000. GSK plc purchased a new position in Vir Biotechnology during the 4th quarter valued at about $51,562,000. State Street Corp increased its position in shares of Vir Biotechnology by 18.9% during the fourth quarter. State Street Corp now owns 6,229,555 shares of the company’s stock valued at $37,564,000 after buying an additional 988,262 shares during the period. ADAR1 Capital Management LLC purchased a new position in Vir Biotechnology during the first quarter valued at approximately $24,593,000. Finally, Dimensional Fund Advisors LP increased its holdings in Vir Biotechnology by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,579,678 shares of the company’s stock worth $23,107,000 after acquiring an additional 43,401 shares during the period. 65.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Vir Biotechnology in a report on Monday, August 10th. Leerink Partners upped their price objective on shares of Vir Biotechnology from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $21.57.

Vir Biotechnology Price Performance

NASDAQ VIR opened at $11.39 on Friday. Vir Biotechnology, Inc. has a 1 year low of $4.75 and a 1 year high of $11.94. The stock has a market capitalization of $1.93 billion, a PE ratio of -6.12 and a beta of 1.63. The business’s 50-day moving average is $9.74 and its 200 day moving average is $9.44.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The business had revenue of $238.95 million during the quarter, compared to analyst estimates of $135.88 million. Vir Biotechnology had a negative return on equity of 29.99% and a negative net margin of 638.88%.Vir Biotechnology’s quarterly revenue was up 19582.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.80) EPS. As a group, equities research analysts anticipate that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.