Vir Biotechnology (NASDAQ:VIR) Shares Down 7.1% – What’s Next?

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) fell 7.1% during mid-day trading on Monday . The company traded as low as $5.86 and last traded at $5.9620. 498,181 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,535,890 shares. The stock had previously closed at $6.42.

Analyst Ratings Changes

Several research firms recently commented on VIR. Bank of America upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their target price for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Vir Biotechnology in a report on Monday, September 15th. Evercore ISI assumed coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $12.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Vir Biotechnology in a report on Monday, November 24th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Vir Biotechnology has an average rating of “Moderate Buy” and a consensus target price of $17.30.

Vir Biotechnology Price Performance

The business has a fifty day moving average of $5.76 and a 200-day moving average of $5.31. The stock has a market capitalization of $849.36 million, a price-to-earnings ratio of -1.69 and a beta of 1.27.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.47). The business had revenue of $0.24 million during the quarter, compared to analyst estimates of $1.98 million. Vir Biotechnology had a negative net margin of 2,963.54% and a negative return on equity of 50.76%. Vir Biotechnology’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.56) earnings per share. As a group, research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jason O’byrne sold 6,799 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $5.56, for a total transaction of $37,802.44. Following the completion of the sale, the chief financial officer directly owned 110,701 shares of the company’s stock, valued at $615,497.56. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Endurance (Cayman) Ltd Svf sold 235,971 shares of Vir Biotechnology stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $6.38, for a total value of $1,505,494.98. Following the completion of the transaction, the insider owned 14,110,209 shares in the company, valued at $90,023,133.42. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,650,381 shares of company stock worth $15,908,999. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of institutional investors have recently bought and sold shares of VIR. Raymond James Financial Inc. acquired a new position in shares of Vir Biotechnology in the second quarter worth about $35,000. Federated Hermes Inc. lifted its position in shares of Vir Biotechnology by 153.8% in the 3rd quarter. Federated Hermes Inc. now owns 8,085 shares of the company’s stock valued at $46,000 after acquiring an additional 4,899 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in Vir Biotechnology in the 2nd quarter worth approximately $50,000. PNC Financial Services Group Inc. grew its position in Vir Biotechnology by 26.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock worth $68,000 after purchasing an additional 2,171 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in Vir Biotechnology during the 1st quarter valued at $70,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

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).