Cornercap Investment Counsel Inc. Has $79,000 Stake in Vir Biotechnology, Inc. (NASDAQ:VIR)

Cornercap Investment Counsel Inc. lessened its stake in shares of Vir Biotechnology, Inc. (NASDAQ:VIR) by 53.0% during the third quarter, Holdings Channel reports. The fund owned 10,587 shares of the company’s stock after selling 11,937 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Vir Biotechnology were worth $79,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. raised its stake in Vir Biotechnology by 23.9% during the 3rd quarter. Victory Capital Management Inc. now owns 81,269 shares of the company’s stock worth $609,000 after buying an additional 15,696 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Vir Biotechnology by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 26,280 shares of the company’s stock worth $197,000 after purchasing an additional 10,294 shares during the period. Blue Trust Inc. lifted its holdings in shares of Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares in the last quarter. nVerses Capital LLC acquired a new stake in Vir Biotechnology in the 3rd quarter valued at $56,000. Finally, Vontobel Holding Ltd. increased its stake in Vir Biotechnology by 27.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 57,446 shares of the company’s stock valued at $430,000 after purchasing an additional 12,511 shares in the last quarter. 65.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays reduced 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. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research report on Friday, November 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the transaction, the director now owns 11,616 shares in the company, valued at approximately $90,604.80. This represents a 51.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 15,940 shares of company stock worth $127,410. 15.60% of the stock is owned by company insiders.

Vir Biotechnology Stock Down 12.2 %

VIR stock opened at $7.03 on Tuesday. The firm has a market cap of $968.17 million, a PE ratio of -1.79 and a beta of 0.46. The business has a 50 day moving average of $7.99 and a 200-day moving average of $8.94. Vir Biotechnology, Inc. has a 12-month low of $7.00 and a 12-month high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The business had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned ($1.22) EPS. On average, research analysts expect that Vir Biotechnology, Inc. will post -3.86 earnings per share for the current year.

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).