Vir Biotechnology (NASDAQ:VIR) Shares Down 3.8% – Time to Sell?

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price was down 3.8% during trading on Friday . The company traded as low as $10.81 and last traded at $10.78. Approximately 201,759 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 4,411,654 shares. The stock had previously closed at $11.20.

Wall Street Analyst Weigh In

VIR has been the topic of several research reports. Barclays cut their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, January 10th. JPMorgan Chase & Co. raised their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.83.

Vir Biotechnology Stock Performance

The stock’s 50-day moving average is $8.40 and its 200 day moving average is $8.46. The stock has a market capitalization of $1.50 billion, a PE ratio of -2.78 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The firm had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.22) earnings per share. Analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction 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. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 14,786 shares of company stock worth $170,172. Insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Vir Biotechnology by 13.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after purchasing an additional 136,087 shares in the last quarter. State Street Corp grew its holdings in Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after acquiring an additional 530,645 shares during the period. Point72 Hong Kong Ltd raised its position in Vir Biotechnology by 180.6% in the second quarter. Point72 Hong Kong Ltd now owns 19,572 shares of the company’s stock worth $174,000 after acquiring an additional 12,598 shares in the last quarter. Millennium Management LLC lifted its holdings in Vir Biotechnology by 94.6% in the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after acquiring an additional 606,804 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Vir Biotechnology during the 3rd quarter worth $191,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

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).