Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.53 and last traded at $6.56, with a volume of 787378 shares changing hands. The stock had previously closed at $6.95.

Analysts Set New Price Targets

Several research firms have recently commented on VIR. HC Wainwright reissued a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Friday, February 28th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research report on Thursday, February 27th. Leerink Partners raised their price target on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.67.

Vir Biotechnology Trading Up 0.4 %

The stock has a 50 day moving average of $8.87 and a 200-day moving average of $8.36. The stock has a market capitalization of $918.86 million, a P/E ratio of -1.71 and a beta of 1.17.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. The firm had revenue of $12.37 million for the quarter, compared to analysts’ expectations of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Activity at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. The trade was a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George A. Scangos sold 10,964 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the sale, the director now owns 708,295 shares of the company’s stock, valued at approximately $6,948,373.95. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,859 shares of company stock worth $326,458. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP purchased a new position in shares of Vir Biotechnology in the 4th quarter valued at approximately $7,961,000. Artisan Partners Limited Partnership purchased a new stake in shares of Vir Biotechnology during the fourth quarter valued at $6,742,000. Point72 Asset Management L.P. increased its position in shares of Vir Biotechnology by 16,169.5% in the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company’s stock valued at $6,228,000 after acquiring an additional 843,239 shares during the period. Dimensional Fund Advisors LP raised its stake in Vir Biotechnology by 58.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock worth $14,059,000 after acquiring an additional 703,360 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Vir Biotechnology by 55.3% during the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock valued at $12,589,000 after purchasing an additional 610,367 shares during the last quarter. 65.32% of the stock is 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).