ARCH Venture Management LLC Invests $65.10 Million in Vir Biotechnology, Inc. $VIR

ARCH Venture Management LLC purchased a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) in the second quarter, Holdings Channel reports. The firm purchased 12,916,663 shares of the company’s stock, valued at approximately $65,100,000. Vir Biotechnology comprises about 21.8% of ARCH Venture Management LLC’s portfolio, making the stock its 2nd largest position. ARCH Venture Management LLC owned approximately 0.09% of Vir Biotechnology as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Vir Biotechnology during the 2nd quarter valued at approximately $35,000. Apollon Wealth Management LLC purchased a new stake in shares of Vir Biotechnology during the 2nd quarter valued at approximately $50,000. Daiwa Securities Group Inc. boosted its holdings in Vir Biotechnology by 2,200.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company’s stock worth $62,000 after buying an additional 11,773 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Vir Biotechnology in the second quarter valued at $63,000. Finally, PNC Financial Services Group Inc. grew its stake in Vir Biotechnology by 25.8% during the second quarter. PNC Financial Services Group Inc. now owns 13,159 shares of the company’s stock valued at $66,000 after acquiring an additional 2,700 shares in the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on VIR shares. Bank of America upgraded shares of Vir Biotechnology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a research report on Monday, September 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Vir Biotechnology in a research report on Monday, December 1st. Finally, Evercore ISI assumed coverage on Vir Biotechnology in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.30.

Vir Biotechnology Stock Up 0.9%

Shares of VIR opened at $6.69 on Friday. The business’s 50 day moving average price is $5.95 and its 200-day moving average price is $5.43. Vir Biotechnology, Inc. has a 52 week low of $4.16 and a 52 week high of $14.45. The stock has a market cap of $930.71 million, a P/E ratio of -1.85 and a beta of 1.34.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.47). Vir Biotechnology had a negative net margin of 2,963.54% and a negative return on equity of 50.76%. The company had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter in the previous year, the firm posted ($1.56) EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Activity

In related news, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $6.05, for a total value of $2,820,764.10. Following the transaction, the insider owned 15,621,369 shares in the company, valued at $94,509,282.45. The trade was a 2.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 3,031,666 shares of company stock valued at $18,292,045. 16.00% of the stock is owned by insiders.

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).