Vir Biotechnology (NASDAQ:VIR) Reaches New 1-Year Low – Here’s What Happened

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price hit a new 52-week low on Tuesday . The company traded as low as $6.25 and last traded at $6.48, with a volume of 1474142 shares traded. The stock had previously closed at $6.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, February 28th. Leerink Partners raised their price objective on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. Finally, 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.67.

Vir Biotechnology Stock Down 3.3 %

The firm has a market cap of $888.69 million, a PE ratio of -1.65 and a beta of 1.17. The firm has a 50-day moving average price of $8.73 and a two-hundred day moving average price of $8.35.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $8.14 million. Research analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vir Biotechnology news, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the transaction, the executive vice president now 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 filing with the SEC, which is accessible through the SEC website. Also, Director George A. Scangos sold 10,964 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was 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 of the company’s stock, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,859 shares of company stock worth $326,458. 15.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Tennessee Department of Treasury raised its position in shares of Vir Biotechnology by 3.2% during 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 during the period. Rhumbline Advisers increased its stake in 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 acquiring an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Vir Biotechnology by 31.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock valued at $61,000 after purchasing an additional 1,999 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Vir Biotechnology by 10.7% in the 4th quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company’s stock valued at $194,000 after purchasing an additional 2,556 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Vir Biotechnology by 0.6% in the 4th quarter. Invesco Ltd. now owns 398,772 shares of the company’s stock valued at $2,927,000 after purchasing an additional 2,574 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

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).