Abu Dhabi Investment Authority (I.. recently announced the acquisition of new stake in Vir Biotechnology Inc. (NASDAQ:VIR). The institutional investor has increased its shareholding in the Healthcare company by 37.50% to 3.67 million shares with purchase of 1.0 million shares. This fresh investment now brings its stake to 2.93% valued currently at $175.12 million. In addition, Baillie Gifford & Co. raised its holdings by 3.33 million to 3.46 million shares. And BlackRock Fund Advisors has lifted its position by 532.05% or 1.94 million shares – to 2.3 million shares.
With over 1.42 million Vir Biotechnology Inc. (VIR) shares trading Monday and a closing price of $40.48 on the day, the dollar volume was approximately $57.54 million. The shares have shown a negative weekly performance of -5.75% and its price on 08/31/20 lost nearly -2.79%. Currently, there are 114.98M common shares owned by the public and among those 109.08M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for VIR have a consensus price objective of $50.00. The analysts have set the share’s price value over the next 12 months at a high of $75.00 and a low of $24.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Vir Biotechnology Inc. stock is 2.90 for the next 12 months. The average price target is 17.67% above its last price level and an upside to the estimated low will see the stock lose -68.67% over that period. But an upside of 46.03% will see the stock hit the forecast high price target while mean target price for the stock is $54.50.
Insiders at the company have transacted a total of 98 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 56 of these insider trades were purchases, accounting for 122,041,489 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 742,074 shares.
The top 3 mutual fund holders in Vir Biotechnology Inc. are American Funds Small Cap World Fu, iShares Russell 2000 ETF, and Janus Henderson Triton Fund. American Funds Small Cap World Fu owns 1.09 million shares of the company’s stock, all valued at over $52.26 million. iShares Russell 2000 ETF sold 44506.0 shares to see its total holdings shrink to 0.95 million shares valued at over $45.51 million and representing 0.76% of the shares outstanding. Janus Henderson Triton Fund bought 0.84 million shares to bring its total holdings to over 0.84 million shares at a value of $40.07 million. Janus Henderson Triton Fund now owns shares totaling to 0.67% of the shares outstanding.
Shares of Vir Biotechnology Inc. (NASDAQ: VIR) opened at $43.73, up $2.09 from a prior closing price of $41.64. However, the script later closed the day at $40.48, down -2.79%. The company’s stock has a 5-day price change of -5.75% and 9.32% over the past three months. It has a 12-month low price of $11.65 and touched a high of $75.00 over the same period. Currently, 1.42 million shares have been traded, compared to an average intraday trading volume of 1.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -18.26%, -14.50%, and 29.80% respectively.
Institutional ownership of Vir Biotechnology Inc. (NASDAQ: VIR) shares accounts for 44.90% of the company’s 114.98M shares outstanding. Mutual fund holders own 5.10%, while other institutional holders and individual stakeholders account for 8.78% and 18.13% respectively.
It has a market capitalization of $5.08B. The earnings-per-share (ttm) stands at -$6.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.53% over the week and 7.12% over the month.
Analysts forecast that Vir Biotechnology Inc. (VIR) will achieve an EPS of -$0.59 for the current quarter, -$0.63 for the next quarter and -$2.71 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.77 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was -$4.6 a year ago. Earnings per share for the fiscal year are expected to decrease by -443.30%, and -20.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Vir Biotechnology Inc. (VIR) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the VIR, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on August 20, 2020, with the firm’s price target at $62. JP Morgan coverage for the Vir Biotechnology Inc. (VIR) stock in a research note released on March 19, 2020 offered a Underweight rating with a price target of $26. Goldman was of a view on March 13, 2020 that the stock is Neutral, while Robert W. Baird gave the stock Underperform rating on February 27, 2020, issuing a price target of $17. JP Morgan on their part issued Neutral rating on February 04, 2020.