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

Vir Biotechnology, Inc. (NASDAQ:VIR) shares fell 8.4% 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 mid-day 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 stock in a transaction on 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 sale, the executive vice president now directly owns 79,460 shares of the company’s stock, valued at approximately $726,264.40. This represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of research firms recently commented on VIR. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research report on Thursday. Leerink Partners increased their price target on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Barclays reduced their price objective 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. Finally, HC Wainwright restated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $34.83.

Vir Biotechnology Stock Performance

The stock has a market cap of $1.15 billion, a P/E ratio of -2.12 and a beta of 0.63. The business has a 50 day simple moving average of $9.44 and a 200-day simple moving average of $8.50.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly 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. The company had revenue of $12.37 million during the quarter, compared to the consensus estimate of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. On average, sell-side analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Vir Biotechnology by 29.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,325 shares of the company’s stock worth $1,331,000 after acquiring an additional 40,954 shares during the period. Woodline Partners LP bought a new position in shares of Vir Biotechnology during the 4th quarter worth $991,000. Two Sigma Advisers LP grew its stake in shares of Vir Biotechnology by 74.8% during the 4th quarter. Two Sigma Advisers LP now owns 74,800 shares of the company’s stock worth $549,000 after acquiring an additional 32,000 shares during the period. Stonepine Capital Management LLC bought a new position in Vir Biotechnology in the 4th quarter worth about $1,205,000. Finally, Sphera Funds Management LTD. boosted its stake in Vir Biotechnology by 523.4% in the 4th quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company’s stock worth $4,271,000 after purchasing an additional 488,500 shares during the period. 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).