Vir Biotechnology (NASDAQ:VIR) Shares Up 9.9% – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price rose 9.9% during trading on Wednesday . The stock traded as high as $6.41 and last traded at $6.5960. Approximately 277,140 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,734,578 shares. The stock had previously closed at $6.00.

Analyst Ratings Changes

Several brokerages have issued reports on VIR. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Vir Biotechnology in a research note on Tuesday, December 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a report on Monday, December 22nd. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Vir Biotechnology Stock Up 15.1%

The business’s 50-day moving average price is $6.09 and its 200 day moving average price is $5.60. The company has a market capitalization of $960.62 million, a P/E ratio of -1.92 and a beta of 1.39.

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

Insider Activity

In other Vir Biotechnology news, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $6.00, for a total value of $132,000.00. Following the completion of the transaction, the director owned 1,188,391 shares of the company’s stock, valued at $7,130,346. The trade was a 1.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 235,971 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $6.38, for a total transaction of $1,505,494.98. Following the sale, the insider owned 14,110,209 shares in the company, valued at approximately $90,023,133.42. This trade represents a 1.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,213,643 shares of company stock valued at $7,476,351 in the last three months. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Diversified Trust Co. boosted its stake in Vir Biotechnology by 24.4% in the fourth quarter. Diversified Trust Co. now owns 28,202 shares of the company’s stock worth $170,000 after buying an additional 5,523 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Vir Biotechnology by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 449,518 shares of the company’s stock worth $2,567,000 after purchasing an additional 6,143 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Vir Biotechnology during the third quarter valued at about $38,000. Hudson Bay Capital Management LP grew its stake in shares of Vir Biotechnology by 31.0% during the third quarter. Hudson Bay Capital Management LP now owns 911,882 shares of the company’s stock valued at $5,207,000 after buying an additional 215,882 shares during the last quarter. Finally, Connective Capital Management LLC purchased a new position in shares of Vir Biotechnology in the third quarter worth about $431,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.