Vir Biotechnology (NASDAQ:VIR) Trading Down 8.4% After Insider Selling

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report)'s share price fell 8.4% on Thursday following insider selling activity. The stock traded as low as $8.47 and last traded at $8.43. 985,718 shares were traded during trading, a decline of 60% from the average session volume of 2,490,299 shares. The stock had previously closed at $9.20.

Specifically, EVP Verneuil Vanina De sold 7,373 shares of the business'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 transaction, the executive vice president now directly owns 79,460 shares of the company's stock, valued at approximately $726,264.40. The trade was a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several brokerages have issued reports on VIR. Leerink Partners boosted their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. Morgan Stanley raised shares of Vir Biotechnology from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Vir Biotechnology in a research note on Thursday. Barclays upped their price target on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology has a consensus rating of "Moderate Buy" and a consensus price target of $35.67.

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Vir Biotechnology Stock Performance

The firm's 50-day moving average is $9.47 and its 200 day moving average is $8.49. The firm has a market capitalization of $1.09 billion, a PE ratio of -2.02 and a beta of 0.64.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.09. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $12.37 million for the quarter, compared to analyst estimates of $8.14 million. As a group, equities analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Institutional Investors Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in shares of Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company's stock worth $30,000 after buying an additional 2,351 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vir Biotechnology in the 4th quarter valued at about $42,000. SBI Securities Co. Ltd. purchased a new position in Vir Biotechnology in the 4th quarter valued at about $60,000. PNC Financial Services Group Inc. lifted its holdings in Vir Biotechnology by 31.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock valued at $61,000 after purchasing an additional 1,999 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Vir Biotechnology by 136.5% in the 4th quarter. KBC Group NV now owns 8,970 shares of the company's stock valued at $66,000 after purchasing an additional 5,177 shares in the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).