Cornercap Investment Counsel Inc. Sells 11,937 Shares of Vir Biotechnology, Inc. (NASDAQ:VIR)

Cornercap Investment Counsel Inc. lowered its stake in Vir Biotechnology, Inc. (NASDAQ:VIR) by 53.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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. Vanguard Group Inc. increased its holdings in shares of Vir Biotechnology by 0.6% in the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock valued at $125,362,000 after purchasing an additional 78,216 shares during the last quarter. Millennium Management LLC grew its stake 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. Bank of New York Mellon Corp raised its holdings in Vir Biotechnology by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after acquiring an additional 6,359 shares during the period. Dimensional Fund Advisors LP lifted its position in Vir Biotechnology by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock worth $5,673,000 after acquiring an additional 58,360 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Vir Biotechnology by 5.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 310,091 shares of the company’s stock worth $3,141,000 after acquiring an additional 16,615 shares during the period. Institutional investors own 65.32% of the company’s stock.

Insider Transactions at Vir Biotechnology

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

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock opened at $7.03 on Tuesday. Vir Biotechnology, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $13.09. The firm has a market capitalization of $968.17 million, a P/E ratio of -1.79 and a beta of 0.46. The company’s 50 day moving average price is $7.99 and its two-hundred day moving average price is $8.94.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data 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). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. During the same period in the prior year, the company earned ($1.22) EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, analysts expect that Vir Biotechnology, Inc. will post -3.86 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Monday, November 4th. Barclays decreased their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.40.

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).