Vir Biotechnology (NASDAQ:VIR) Sets New 1-Year Low – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.13 and last traded at $5.21, with a volume of 173032 shares trading hands. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VIR. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research report on Thursday, February 27th. Barclays lifted their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Friday, February 28th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. Finally, Leerink Partners upped their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Vir Biotechnology Stock Down 2.0 %

The company has a market capitalization of $750.31 million, a PE ratio of -1.40 and a beta of 1.14. The firm has a 50-day moving average of $8.36 and a two-hundred day moving average of $8.29.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.09. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $12.37 million during the quarter, compared to analyst estimates of $8.14 million. On average, equities research analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Activity at Vir Biotechnology

In related news, CEO Backer Marianne De sold 79,712 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the completion of the transaction, the chief executive officer now directly owns 769,505 shares of the company’s stock, valued at $4,578,554.75. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George A. Scangos sold 10,964 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the sale, the director now directly owns 708,295 shares in the company, valued at $6,948,373.95. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,571 shares of company stock worth $800,744. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIR. State of Tennessee Department of Treasury boosted its holdings in shares of Vir Biotechnology by 3.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company’s stock valued at $288,000 after buying an additional 1,227 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Vir Biotechnology by 0.5% during the fourth quarter. Rhumbline Advisers now owns 236,681 shares of the company’s stock worth $1,737,000 after purchasing an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock worth $61,000 after purchasing an additional 1,999 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Vir Biotechnology by 10.7% during the 4th quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company’s stock worth $194,000 after buying an additional 2,556 shares during the last quarter. Finally, Invesco Ltd. increased its position in Vir Biotechnology by 0.6% during the fourth quarter. Invesco Ltd. now owns 398,772 shares of the company’s stock worth $2,927,000 after buying an additional 2,574 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

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).