Vir Biotechnology (NASDAQ:VIR) Stock Price Down 8.4% on Insider Selling

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price fell 8.4% on Thursday following insider selling activity. The company traded as low as $8.47 and last traded at $8.43. 985,718 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,490,299 shares. The stock had previously closed at $9.20.

Specifically, EVP Verneuil Vanina De sold 7,373 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the sale, the executive vice president now owns 79,460 shares in the company, valued at $726,264.40. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, January 31st. Barclays dropped their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Leerink Partners lifted their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. increased 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. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.83.

Vir Biotechnology Stock Down 11.8 %

The firm has a 50 day moving average price of $9.42 and a two-hundred day moving average price of $8.50. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.07 and a beta of 0.63.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.37 million during the quarter, compared to analyst estimates of $8.14 million. Analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Institutional Investors Weigh In On Vir Biotechnology

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after acquiring an additional 2,351 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Vir Biotechnology by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 26,280 shares of the company’s stock worth $197,000 after purchasing an additional 10,294 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Vir Biotechnology by 23.9% during the third quarter. Victory Capital Management Inc. now owns 81,269 shares of the company’s stock worth $609,000 after purchasing an additional 15,696 shares during the last quarter. Quest Partners LLC increased its stake in shares of Vir Biotechnology by 171.4% during the 3rd quarter. Quest Partners LLC now owns 34,455 shares of the company’s stock worth $258,000 after purchasing an additional 21,760 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Vir Biotechnology during the 3rd quarter valued at $191,000. 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).