Vir Biotechnology (NASDAQ:VIR) Hits New 12-Month Low – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.13 and last traded at $5.21, with a volume of 173032 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

VIR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, February 28th. Barclays increased their price target on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. Finally, Leerink Partners boosted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.67.

Vir Biotechnology Trading Down 2.0 %

The company has a market cap of $750.31 million, a price-to-earnings ratio of -1.40 and a beta of 1.14. The stock’s 50 day moving average price is $8.36 and its 200 day moving average price is $8.29.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.09. The firm had revenue of $12.37 million for the quarter, compared to analyst estimates 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, equities analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction dated 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 $726,264.40. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,571 shares of company stock worth $800,744 over the last ninety days. Corporate insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of VIR. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vir Biotechnology in the fourth quarter valued at approximately $42,000. SBI Securities Co. Ltd. acquired a new stake in shares of Vir Biotechnology in the fourth quarter valued at approximately $60,000. PNC Financial Services Group Inc. raised its holdings in shares of Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock valued at $61,000 after buying an additional 1,999 shares during the last quarter. KBC Group NV boosted its position in shares of Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after buying an additional 5,177 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Vir Biotechnology in the 4th quarter worth approximately $74,000. 65.32% of the stock is 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).