Vir Biotechnology, Inc. $VIR Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in Vir Biotechnology, Inc. (NASDAQ:VIR) by 2.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,904,758 shares of the company’s stock after selling 48,558 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Vir Biotechnology were worth $21,295,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fiduciary Financial Advisors bought a new position in Vir Biotechnology during the second quarter worth about $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Vir Biotechnology in the 3rd quarter worth about $97,000. Caxton Associates LLP bought a new stake in Vir Biotechnology in the 1st quarter valued at about $112,000. Amundi boosted its holdings in Vir Biotechnology by 52.8% in the 1st quarter. Amundi now owns 15,315 shares of the company’s stock valued at $137,000 after purchasing an additional 5,294 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Vir Biotechnology by 223.1% during the 1st quarter. Royal Bank of Canada now owns 15,355 shares of the company’s stock worth $138,000 after purchasing an additional 10,603 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Vir Biotechnology

Here are a few of the latest headlines about VIR:

• Positive Sentiment: Evercore ISI and TD Cowen reiterated Buy ratings. HC Wainwright also maintains a Buy rating and $22 price target; its updated estimates generally project narrower losses, including a smaller expected FY2027 loss. Evercore ISI rating TD Cowen rating HC Wainwright rating
• Positive Sentiment: Morgan Stanley raised its price target to $28 and retained an Overweight rating. Recent coverage also highlighted Vir’s hepatitis D drug results in Phase II and Phase III trials, a key potential driver behind investor interest. Hepatitis D trial coverage
• Negative Sentiment: The sharp prior rally may leave the stock vulnerable if expectations for Vir’s clinical pipeline or future financial performance are not met; the company is still expected to report losses.

Wall Street Analyst Weigh In

VIR has been the topic of several recent research reports. Needham & Company LLC raised their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Wall Street Zen upgraded shares of Vir Biotechnology from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Morgan Stanley boosted their price target on Vir Biotechnology from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Friday, October 2nd. Finally, Zacks Research raised Vir Biotechnology from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.57.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, EVP Vanina de Verneuil sold 2,407 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $11.10, for a total transaction of $26,717.70. Following the completion of the transaction, the executive vice president directly owned 110,193 shares in the company, valued at $1,223,142.30. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.90% of the stock is owned by company insiders.

Vir Biotechnology Trading Down 0.2%

Shares of NASDAQ:VIR opened at $13.13 on Thursday. The firm has a 50 day moving average of $11.16 and a 200-day moving average of $9.71. The stock has a market capitalization of $2.25 billion, a PE ratio of -10.42 and a beta of 1.70. Vir Biotechnology, Inc. has a 12 month low of $5.32 and a 12 month high of $14.38.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.18. The firm had revenue of ($0.19) million for the quarter, compared to the consensus estimate of $0.98 million. The business’s revenue was down 178.3% on a year-over-year basis. During the same period last year, the company posted ($1.17) EPS. On average, research analysts predict that Vir Biotechnology, Inc. will post -1.28 EPS for the current fiscal year.

About Vir Biotechnology

Vir Biotechnology is a clinical-stage biopharmaceutical company focused on developing treatments for infectious diseases and cancer. Its research draws on immunology and includes approaches such as monoclonal antibodies, small-interfering RNA therapies and T-cell-based treatments. The company’s pipeline has included programs targeting chronic hepatitis B and influenza, as well as investigational cancer therapies. Vir has also pursued research and development collaborations to advance its programs.