Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low at $7.61

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price hit a new 52-week low on Wednesday . The company traded as low as $7.61 and last traded at $7.61, with a volume of 286777 shares trading hands. The stock had previously closed at $7.78.

Analyst Ratings Changes

VIR has been the subject of several recent research reports. Needham & Company LLC increased their price objective on Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Morgan Stanley raised their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 6th. Barclays upped their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Vir Biotechnology Stock Down 2.3 %

The business has a 50-day simple moving average of $9.06 and a 200-day simple moving average of $9.66. The company has a market cap of $1.04 billion, a PE ratio of -1.94 and a beta of 0.47.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13). The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $7.53 million. Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.45) earnings per share. As a group, equities research analysts predict that Vir Biotechnology, Inc. will post -3.26 EPS for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Saira Ramasastry sold 4,000 shares of Vir Biotechnology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total value of $43,800.00. Following the completion of the transaction, the director now owns 14,619 shares in the company, valued at $160,078.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Vir Biotechnology by 249.9% during the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after buying an additional 1,934 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Vir Biotechnology by 274.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after acquiring an additional 2,177 shares in the last quarter. Innealta Capital LLC purchased a new stake in Vir Biotechnology in the 2nd quarter valued at approximately $32,000. Federated Hermes Inc. acquired a new position in Vir Biotechnology during the fourth quarter worth $69,000. Finally, Magnetar Financial LLC acquired a new position in shares of Vir Biotechnology during the 2nd quarter worth $95,000. 65.32% of the stock is owned by institutional investors and hedge funds.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.