Insider Selling: Vir Biotechnology (NASDAQ:VIR) Director Sells 22,000 Shares of Stock

Vir Biotechnology, Inc. (NASDAQ:VIR) Director Vicki Sato sold 22,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $5.64, for a total transaction of $124,080.00. Following the completion of the sale, the director directly owned 1,210,391 shares of the company’s stock, valued at $6,826,605.24. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Vir Biotechnology Price Performance

NASDAQ:VIR traded down $0.31 during mid-day trading on Tuesday, reaching $5.30. The stock had a trading volume of 638,909 shares, compared to its average volume of 1,539,719. Vir Biotechnology, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $14.45. The stock has a market cap of $735.56 million, a P/E ratio of -1.32 and a beta of 1.27. The business’s 50 day moving average is $5.51 and its 200 day moving average is $5.31.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. During the same quarter in the prior year, the firm posted ($1.02) EPS. The firm’s revenue for the quarter was down 60.5% on a year-over-year basis. Equities analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of VIR. Clarius Group LLC grew its holdings in Vir Biotechnology by 0.3% during the third quarter. Clarius Group LLC now owns 619,312 shares of the company’s stock worth $3,536,000 after acquiring an additional 1,777 shares during the period. PNC Financial Services Group Inc. grew its stake in Vir Biotechnology by 26.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock worth $68,000 after purchasing an additional 2,171 shares in the last quarter. Rhumbline Advisers grew its stake in Vir Biotechnology by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 228,949 shares of the company’s stock worth $1,154,000 after purchasing an additional 2,300 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Vir Biotechnology by 15.3% during the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock worth $125,000 after acquiring an additional 2,566 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Vir Biotechnology by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,290 shares of the company’s stock worth $248,000 after acquiring an additional 3,209 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VIR. Evercore ISI assumed coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Vir Biotechnology in a research note on Monday, September 15th. Bank of America upgraded shares of Vir Biotechnology from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. Finally, Raymond James Financial began coverage on shares of Vir Biotechnology in a research report on Friday, July 11th. They issued an “outperform” rating for the company. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Vir Biotechnology has an average rating of “Moderate Buy” and a consensus price target of $17.30.

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).