Allspring Global Investments Holdings LLC Lowers Stock Holdings in Vir Biotechnology, Inc. (NASDAQ:VIR)

Allspring Global Investments Holdings LLC lowered its position in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,824 shares of the company’s stock after selling 3,333 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vir Biotechnology were worth $59,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VIR. Hudson Bay Capital Management LP grew its holdings in shares of Vir Biotechnology by 1,975.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 207,500 shares of the company’s stock valued at $1,944,000 after purchasing an additional 197,500 shares during the last quarter. Barclays PLC boosted its position in Vir Biotechnology by 124.6% during the third quarter. Barclays PLC now owns 412,161 shares of the company’s stock valued at $3,863,000 after buying an additional 228,634 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Vir Biotechnology by 205.5% during the third quarter. State of Alaska Department of Revenue now owns 153,494 shares of the company’s stock valued at $1,438,000 after buying an additional 103,246 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Vir Biotechnology by 582.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 162,128 shares of the company’s stock worth $1,519,000 after buying an additional 138,387 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Vir Biotechnology in the 3rd quarter valued at about $1,098,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at $6,418,203.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sung Lee sold 6,008 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $9.89, for a total value of $59,419.12. Following the completion of the transaction, the chief financial officer now owns 100,492 shares of the company’s stock, valued at approximately $993,865.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,831 shares of company stock worth $1,525,844. 15.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VIR has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their target price on shares of Vir Biotechnology from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.38.

Vir Biotechnology Stock Performance

NASDAQ VIR opened at $8.37 on Tuesday. The stock has a market cap of $1.13 billion, a P/E ratio of -1.82 and a beta of 0.41. Vir Biotechnology, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $27.48. The stock has a 50 day simple moving average of $9.90 and a two-hundred day simple moving average of $9.59.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Thursday, February 22nd. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.28. The company had revenue of $16.80 million during the quarter, compared to the consensus estimate of $11.18 million. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. The firm’s revenue for the quarter was down 66.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) earnings per share. Sell-side analysts predict that Vir Biotechnology, Inc. will post -4.04 earnings per share for the current year.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.