Vir Biotechnology (NASDAQ:VIR) Reaches New 12-Month Low - Time to Sell?

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VIR shares. Barclays lifted their target price on Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. HC Wainwright restated a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, January 9th. Leerink Partners lifted their price target 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. Finally, Morgan Stanley upgraded shares of Vir Biotechnology from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.67.

Vir Biotechnology Stock Down 6.4 %

The business has a 50-day simple moving average of $8.36 and a two-hundred day simple moving average of $8.29. The stock has a market capitalization of $765.26 million, a P/E ratio of -1.42 and a beta of 1.14.

Remove Ads

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.76) EPS 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 the consensus estimate of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. On average, sell-side analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In other news, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the sale, the chief executive officer now owns 769,505 shares in the company, valued at approximately $4,578,554.75. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were 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 owns 79,460 shares of the company's stock, valued at approximately $726,264.40. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,571 shares of company stock valued at $800,744. Corporate insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in shares of Vir Biotechnology in the third quarter valued at approximately $191,000. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 136,087 shares during the period. Quantbot Technologies LP bought a new stake in shares of Vir Biotechnology during the third quarter worth $138,000. Public Sector Pension Investment Board lifted its stake 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 during the period. Finally, Captrust Financial Advisors bought a new position in Vir Biotechnology in the third quarter valued at about $118,000. 65.32% of the stock is owned by institutional investors.

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).