Jason O’byrne Sells 2,089 Shares of Vir Biotechnology (NASDAQ:VIR) Stock

Vir Biotechnology, Inc. (NASDAQ:VIR) CFO Jason O’byrne sold 2,089 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $7.45, for a total value of $15,563.05. Following the transaction, the chief financial officer directly owned 164,249 shares in the company, valued at $1,223,655.05. This trade represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vir Biotechnology Stock Up 5.4%

Shares of VIR stock opened at $10.00 on Thursday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -3.16 and a beta of 1.69. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $10.94. The stock has a 50-day moving average price of $6.88 and a 200 day moving average price of $6.02.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Monday, February 23rd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.11. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 49.31%. The company had revenue of $64.07 million for the quarter, compared to analyst estimates of $19.91 million. During the same quarter last year, the firm earned ($0.76) EPS. The company’s revenue for the quarter was up 417.8% on a year-over-year basis. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VIR has been the subject of several recent research reports. Evercore reiterated an “outperform” rating and set a $18.00 target price on shares of Vir Biotechnology in a research report on Tuesday. Needham & Company LLC upped their price objective on Vir Biotechnology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Monday, December 22nd. Barclays boosted their target price on Vir Biotechnology from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Raymond James Financial upgraded shares of Vir Biotechnology from an “outperform” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Vir Biotechnology has an average rating of “Moderate Buy” and an average target price of $19.88.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Vir Biotechnology by 2,088.4% during the 1st quarter. AQR Capital Management LLC now owns 268,297 shares of the company’s stock worth $1,739,000 after buying an additional 256,037 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Vir Biotechnology in the first quarter valued at approximately $359,000. Goldman Sachs Group Inc. increased its position in shares of Vir Biotechnology by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company’s stock worth $4,813,000 after acquiring an additional 225,544 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Vir Biotechnology by 245.6% during the first quarter. Woodline Partners LP now owns 466,737 shares of the company’s stock worth $3,024,000 after acquiring an additional 331,701 shares during the period. Finally, Focus Partners Wealth lifted its position in Vir Biotechnology by 15.3% in the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock valued at $125,000 after acquiring an additional 2,566 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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.