Man Group takes new $1.5M stake in Vir Biotechnology
What's the deal? Man Group plcDealroom has a profile for this one. Try Dealroom → opened a new position in Vir Biotechnology (NASDAQ:VIR) during the second quarter, buying 150,688 shares worth about $1,536,000, according to Holdings Channel.com.
What does the company do? Vir Biotechnology is a clinical-stage immunology company developing therapies to prevent and treat serious infectious diseases, using proprietary platforms spanning antibody isolation, cell-based assays, and bioinformatics.
Why now? Vir posted a strong second quarter. It reported earnings of $0.47 per share on August 5, beating the $0.33 consensus, with revenue of $238.95 million against estimates of $135.88 million.
Who else is buying? AQR Capital Management lifted its stake by 2,088.4% in the first quarter to 268,297 shares, and Goldman SachsDealroom has a profile for this one. Try Dealroom → raised its holding 43.6% to 742,674 shares. Institutional investors and hedge funds now own 65.32% of the stock.
What are analysts saying? Vir holds a consensus "Moderate Buy" rating and a $21.57 average price target, with Morgan StanleyDealroom has a profile for this one. Try Dealroom → setting a $25.00 target and HC WainwrightDealroom has a profile for this one. Try Dealroom → reiterating a "buy." Weiss RatingsDealroom has a profile for this one. Try Dealroom →, however, kept a "sell" rating.
By the numbers: Shares opened at $11.50, near their 52-week high of $11.94 and well above the $4.75 low. The company carries a market capitalisation of $1.95 billion and a PE ratio of -6.18.
The signal: A cluster of institutional buying and a large revenue beat point to renewed interest in Vir, though analyst views remain split and the company is still unprofitable.
Read more: tickerreport.com
Image credit: NavyMedicine
