Vir Biotechnology (NASDAQ:VIR) Reaches New 1-Year Low – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.25 and last traded at $6.48, with a volume of 1474142 shares traded. The stock had previously closed at $6.70.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VIR shares. JPMorgan Chase & Co. boosted their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th. Barclays increased their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Thursday, February 27th. Finally, Leerink Partners raised their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.67.

Vir Biotechnology Trading Up 4.9 %

The stock has a market cap of $888.69 million, a PE ratio of -1.65 and a beta of 1.17. The business has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $8.32.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.09. The company 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, research analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In other news, EVP Verneuil Vanina De sold 7,373 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the completion of the transaction, the executive vice president now directly owns 79,460 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Scangos sold 10,964 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the sale, the director now owns 708,295 shares in the company, valued at $6,948,373.95. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,859 shares of company stock valued at $326,458 in the last three months. 15.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vir Biotechnology

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in Vir Biotechnology during the 3rd quarter valued at about $191,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Vir Biotechnology by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after buying an additional 136,087 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Vir Biotechnology during the third quarter valued at approximately $138,000. Public Sector Pension Investment Board increased its position in shares of Vir Biotechnology by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 194,208 shares of the company’s stock valued at $1,455,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in Vir Biotechnology in the 3rd quarter worth approximately $118,000. Hedge funds and other institutional investors 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).