Quest Partners LLC Has $258,000 Position in Vir Biotechnology, Inc. (NASDAQ:VIR)

Quest Partners LLC grew its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 171.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,455 shares of the company’s stock after purchasing an additional 21,760 shares during the period. Quest Partners LLC’s holdings in Vir Biotechnology were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in VIR. Millennium Management LLC raised its holdings in Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after buying an additional 606,804 shares during the last quarter. Federated Hermes Inc. raised its holdings in Vir Biotechnology by 19,327.1% in the 2nd quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock valued at $2,671,000 after buying an additional 298,603 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in Vir Biotechnology in the 2nd quarter valued at approximately $1,780,000. Cubist Systematic Strategies LLC raised its holdings in Vir Biotechnology by 6,402.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock valued at $1,679,000 after buying an additional 185,723 shares during the last quarter. Finally, Algert Global LLC bought a new position in Vir Biotechnology in the 2nd quarter valued at approximately $1,485,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Vir Biotechnology Stock Performance

Vir Biotechnology stock opened at $7.62 on Wednesday. Vir Biotechnology, Inc. has a 52-week low of $6.56 and a 52-week high of $13.09. The firm has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $8.83. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -1.94 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The firm had revenue of $2.38 million for the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.22) EPS. As a group, equities research analysts predict that Vir Biotechnology, Inc. will post -3.3 EPS for the current fiscal year.

Insider Activity

In other news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. The trade was a 51.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 15,940 shares of company stock worth $127,410 in the last quarter. 15.60% of the stock is owned by corporate insiders.

Vir Biotechnology 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).