Vir Biotechnology (NASDAQ:VIR) Reaches New 1-Year Low – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $6.53 and last traded at $6.56, with a volume of 787378 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VIR shares. 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. 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 report on Thursday, January 9th. Barclays boosted their price target on Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. Finally, Leerink Partners lifted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Vir Biotechnology Trading Up 0.4 %

The company has a fifty day moving average of $8.87 and a 200-day moving average of $8.36. The company has a market capitalization of $918.86 million, a price-to-earnings ratio of -1.71 and a beta of 1.17.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share (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 company had revenue of $12.37 million for the quarter, compared to analysts’ expectations of $8.14 million. As a group, equities research analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In related news, Director George A. Scangos sold 10,964 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the sale, the director now owns 708,295 shares in the company, valued at approximately $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 79,460 shares of the company’s stock, valued at $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 have sold 30,859 shares of company stock valued at $326,458. Insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vir Biotechnology in the 4th quarter valued at about $42,000. SBI Securities Co. Ltd. acquired a new position in Vir Biotechnology during the fourth quarter worth approximately $60,000. PNC Financial Services Group Inc. raised its stake in Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock worth $61,000 after purchasing an additional 1,999 shares during the period. KBC Group NV boosted its holdings in shares of 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 during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Vir Biotechnology during the fourth quarter valued at about $74,000. 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).