Vir Biotechnology (NASDAQ:VIR) Hits New 12-Month Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays dropped their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Vir Biotechnology Stock Down 2.7 %

The company has a market cap of $928.23 million, a P/E ratio of -1.71 and a beta of 0.46. The firm has a 50 day moving average of $7.97 and a 200-day moving average of $8.92.

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

Insider Buying and Selling

In other news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. This represents a 51.21 % decrease in their ownership of the stock. The sale was disclosed in a 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 three months. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Vir Biotechnology by 116.6% during the first quarter. Russell Investments Group Ltd. now owns 25,971 shares of the company’s stock valued at $263,000 after purchasing an additional 13,981 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Vir Biotechnology by 8.4% in the first quarter. ProShare Advisors LLC now owns 26,392 shares of the company’s stock valued at $267,000 after purchasing an additional 2,035 shares during the last quarter. Vanguard Group Inc. lifted its position in Vir Biotechnology by 0.6% during the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock worth $125,362,000 after buying an additional 78,216 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Vir Biotechnology during the first quarter worth $259,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Vir Biotechnology by 5.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 310,091 shares of the company’s stock valued at $3,141,000 after buying an additional 16,615 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, 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).