Polymer Capital Management US LLC Buys Shares of 13,790 Vir Biotechnology, Inc. (NASDAQ:VIR)

Polymer Capital Management US LLC bought a new stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) in the 4th quarter, HoldingsChannel reports. The firm bought 13,790 shares of the company’s stock, valued at approximately $101,000.

Several other hedge funds have also bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Vir Biotechnology during the fourth quarter worth approximately $60,000. PNC Financial Services Group Inc. raised its stake in shares of Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock worth $61,000 after acquiring an additional 1,999 shares in the last quarter. KBC Group NV raised its stake in shares of Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after acquiring an additional 5,177 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Vir Biotechnology during the fourth quarter worth approximately $74,000. Finally, Virtu Financial LLC purchased a new position in shares of Vir Biotechnology during the fourth quarter worth approximately $94,000. 65.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, February 28th. Leerink Partners lifted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.67.

Insider Activity

In other news, Director George A. Scangos sold 10,964 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the sale, the director now owns 708,295 shares in the company, valued at approximately $6,948,373.95. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Backer Marianne De sold 79,712 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the sale, the chief executive officer now owns 769,505 shares in the company, valued at approximately $4,578,554.75. This trade represents a 9.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,611 shares of company stock worth $663,525. Corporate insiders own 15.60% of the company’s stock.

Vir Biotechnology Stock Up 10.2 %

NASDAQ:VIR opened at $5.72 on Thursday. The stock has a market cap of $784.46 million, a P/E ratio of -1.46 and a beta of 1.14. The firm’s fifty day simple moving average is $7.86 and its 200 day simple moving average is $8.21. Vir Biotechnology, Inc. has a twelve month low of $4.95 and a twelve month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.09. The business had revenue of $12.37 million for the quarter, compared to analysts’ expectations of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. On average, analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal 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).