Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) dropped 10.4% on Monday . The company traded as low as $10.72 and last traded at $10.84. Approximately 1,281,954 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 7,330,502 shares. The stock had previously closed at $12.10.
Analyst Ratings Changes
VIR has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, January 10th. Leerink Partners boosted their target price on 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 issued a $19.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Morgan Stanley raised shares of Vir Biotechnology from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. Finally, Barclays lowered their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Vir Biotechnology presently has an average rating of "Moderate Buy" and an average target price of $34.83.
Check Out Our Latest Stock Report on VIR
Vir Biotechnology Trading Up 2.6 %
The company has a fifty day moving average price of $8.27 and a two-hundred day moving average price of $8.37. The firm has a market cap of $1.45 billion, a P/E ratio of -2.68 and a beta of 0.51.
Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its 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). The company had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.22) earnings per share. As a group, sell-side analysts expect that Vir Biotechnology, Inc. will post -3.36 EPS for the current year.
Insider Activity at Vir Biotechnology
In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the 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 completion of the transaction, the director now owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 14,786 shares of company stock valued at $170,172. 15.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in Vir Biotechnology by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 238,504 shares of the company's stock valued at $2,123,000 after acquiring an additional 9,817 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Vir Biotechnology by 41.5% in the second quarter. Victory Capital Management Inc. now owns 65,573 shares of the company's stock valued at $584,000 after purchasing an additional 19,216 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Vir Biotechnology in the second quarter worth $119,000. Quest Partners LLC boosted its holdings in 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, American Century Companies Inc. grew its position in Vir Biotechnology by 12.7% in the second quarter. American Century Companies Inc. now owns 168,235 shares of the company's stock valued at $1,497,000 after purchasing an additional 18,967 shares in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.
About Vir Biotechnology
(
Get Free Report)
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).
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