Vir Biotechnology (NASDAQ:VIR) Shares Down 10.4% - What's Next?

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) shares dropped 10.4% during mid-day trading on Monday . The company traded as low as $10.72 and last traded at $10.84. Approximately 1,281,954 shares traded hands during trading, a decline of 83% from the average daily volume of 7,330,502 shares. The stock had previously closed at $12.10.

Wall Street Analyst Weigh In

VIR has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley raised shares of Vir Biotechnology from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $10.00 to $20.00 in a research report on Thursday. Leerink Partners raised their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.83.

Vir Biotechnology Trading Down 13.1 %

The business has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $8.36. The company has a market cap of $1.45 billion, a PE ratio of -2.68 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million for the quarter, compared to analysts' expectations of $5.54 million. During the same quarter in the prior year, the firm earned ($1.22) EPS. The firm's revenue was down 9.8% on a year-over-year basis. Equities analysts expect that Vir Biotechnology, Inc. will post -3.36 EPS for the current year.

Insider Transactions at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the sale, the director now directly owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 14,786 shares of company stock worth $170,172 over the last ninety days. Company insiders own 15.60% of the company's stock.

Institutional Trading of Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew 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 purchasing an additional 2,351 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Vir Biotechnology during the third quarter worth about $56,000. Magnetar Financial LLC purchased a new position in shares of Vir Biotechnology during the second quarter worth about $95,000. Quest Partners LLC grew its holdings in shares of Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company's stock worth $113,000 after purchasing an additional 7,452 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Vir Biotechnology during the third quarter worth about $118,000. 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).