Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low - Time to Sell?

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $5.13 and last traded at $5.21, with a volume of 173032 shares changing hands. The stock had previously closed at $5.58.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright restated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $19.00 target price on shares of Vir Biotechnology in a research report on Thursday, February 27th. Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. JPMorgan Chase & Co. boosted 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. Finally, Leerink Partners increased their target price 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.67.

Vir Biotechnology Stock Performance

The business's fifty day moving average price is $7.68 and its two-hundred day moving average price is $8.18. The firm has a market capitalization of $758.40 million, a P/E ratio of -1.41 and a beta of 1.14.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its 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 during 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%. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director George A. Scangos sold 10,964 shares of the company's stock in a transaction 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 transaction, the director now directly owns 708,295 shares of the company's stock, valued at $6,948,373.95. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Backer Marianne De sold 79,712 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 99,611 shares of company stock worth $663,525 in the last ninety days. 15.60% of the stock is owned by insiders.

Institutional Trading of Vir Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baker BROS. Advisors LP acquired a new stake in Vir Biotechnology during the fourth quarter worth about $7,961,000. Artisan Partners Limited Partnership acquired a new stake in shares of Vir Biotechnology during the 4th quarter worth approximately $6,742,000. Point72 Asset Management L.P. increased its holdings in shares of Vir Biotechnology by 16,169.5% during the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock valued at $6,228,000 after purchasing an additional 843,239 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Vir Biotechnology by 58.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock valued at $14,059,000 after purchasing an additional 703,360 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Vir Biotechnology by 55.3% in 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 period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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).