Vir Biotechnology (NASDAQ:VIR) Trading Down 8.4% on Insider Selling

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) fell 8.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $8.47 and last traded at $8.43. 985,718 shares were traded during trading, a decline of 60% from the average session volume of 2,490,299 shares. The stock had previously closed at $9.20.

Specifically, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total value of $67,389.22. Following the completion of the transaction, the executive vice president now directly owns 79,460 shares of the company’s stock, valued at approximately $726,264.40. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VIR shares. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. Leerink Partners increased their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vir Biotechnology currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Vir Biotechnology Price Performance

The stock has a 50 day simple moving average of $9.42 and a two-hundred day simple moving average of $8.50. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -2.07 and a beta of 0.63.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09. The firm had revenue of $12.37 million for the quarter, compared to the consensus estimate of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. As a group, research analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Hedge Funds Weigh In On Vir Biotechnology

Several large investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP purchased a new position in shares of Vir Biotechnology in the fourth quarter valued at $7,961,000. Artisan Partners Limited Partnership acquired a new position in Vir Biotechnology during the 4th quarter valued at about $6,742,000. Point72 Asset Management L.P. boosted its position in Vir Biotechnology by 16,169.5% during the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company’s stock worth $6,228,000 after acquiring an additional 843,239 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Vir Biotechnology by 58.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock worth $14,059,000 after acquiring an additional 703,360 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Vir Biotechnology by 55.3% in the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock worth $12,589,000 after purchasing an additional 610,367 shares in the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).