Vir Biotechnology (NASDAQ:VIR) Director Sells $199,540.00 in Stock

Vir Biotechnology, Inc. (NASDAQ:VIR) Director Vicki Sato sold 22,000 shares of Vir Biotechnology stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $9.07, for a total value of $199,540.00. Following the completion of the transaction, the director owned 1,100,391 shares in the company, valued at approximately $9,980,546.37. The trade was a 1.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vir Biotechnology Price Performance

Shares of VIR stock traded up $0.08 on Thursday, hitting $9.10. 851,331 shares of the company’s stock were exchanged, compared to its average volume of 3,500,792. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $10.94. The stock has a market cap of $1.27 billion, a P/E ratio of -2.88 and a beta of 1.66. The company has a 50 day moving average of $8.45 and a 200 day moving average of $6.79.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Monday, February 23rd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.11. The firm had revenue of $64.07 million for the quarter, compared to analysts’ expectations of $19.91 million. Vir Biotechnology had a negative return on equity of 49.31% and a negative net margin of 638.88%.The business’s revenue for the quarter was up 417.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.76) earnings per share. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIR. ARCH Venture Management LLC bought a new position in shares of Vir Biotechnology in the 2nd quarter worth about $65,100,000. GSK plc bought a new stake in shares of Vir Biotechnology during the 4th quarter valued at about $51,562,000. Balyasny Asset Management L.P. acquired a new stake in Vir Biotechnology during the fourth quarter worth approximately $8,252,000. State Street Corp increased its holdings in Vir Biotechnology by 18.9% in the fourth quarter. State Street Corp now owns 6,229,555 shares of the company’s stock worth $37,564,000 after purchasing an additional 988,262 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Vir Biotechnology by 129.2% in the third quarter. Millennium Management LLC now owns 1,396,504 shares of the company’s stock worth $7,974,000 after purchasing an additional 787,212 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Leerink Partners reiterated an “outperform” rating and set a $20.00 price objective on shares of Vir Biotechnology in a research report on Thursday, February 26th. Morgan Stanley boosted their target price on shares of Vir Biotechnology from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. HC Wainwright upped their price target on shares of Vir Biotechnology from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Barclays boosted their price objective on Vir Biotechnology from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $20.44.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical?stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell?based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID?19, HIV, hepatitis B, and tuberculosis.