Vir Biotechnology (NASDAQ:VIR) Hits New 12-Month Low – Here’s Why

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) reached a new 52-week low on Monday . The company traded as low as $7.00 and last traded at $7.07, with a volume of 1599756 shares. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays cut their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Monday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Stock Performance

The firm has a 50 day moving average price of $8.00 and a two-hundred day moving average price of $8.96. The company has a market capitalization of $968.17 million, a P/E ratio of -1.88 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned ($1.22) earnings per share. On average, equities analysts expect that Vir Biotechnology, Inc. will post -3.86 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Janet Napolitano sold 12,190 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the transaction, the director now directly owns 11,616 shares of the company’s stock, valued at $90,604.80. The trade was a 51.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,940 shares of company stock worth $127,410 in the last quarter. 15.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Vir Biotechnology by 1.3% during the third quarter. Barclays PLC now owns 550,186 shares of the company’s stock worth $4,121,000 after purchasing an additional 7,287 shares during the last quarter. State Street Corp lifted its position in Vir Biotechnology by 10.4% during the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after buying an additional 530,645 shares in the last quarter. Quarry LP grew its holdings in Vir Biotechnology by 901.8% during the 3rd quarter. Quarry LP now owns 17,000 shares of the company’s stock worth $127,000 after acquiring an additional 15,303 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Vir Biotechnology by 10.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company’s stock valued at $2,623,000 after acquiring an additional 33,473 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Vir Biotechnology in the 3rd quarter valued at about $217,000. 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).