Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low at $7.61

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) reached a new 52-week low during trading on Wednesday . The stock traded as low as $7.61 and last traded at $7.61, with a volume of 286777 shares traded. The stock had previously closed at $7.78.

Analyst Ratings Changes

Several analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, June 6th. Barclays raised their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC raised their price objective on shares of Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Vir Biotechnology Price Performance

The company’s 50 day moving average is $9.01 and its 200 day moving average is $9.63. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -1.91 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.13). Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.93%. The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $7.53 million. During the same quarter last year, the business posted ($1.45) earnings per share. The business’s revenue was down 19.0% compared to the same quarter last year. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.26 earnings per share for the current year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, Director Saira Ramasastry sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total transaction of $43,800.00. Following the completion of the transaction, the director now directly owns 14,619 shares in the company, valued at approximately $160,078.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Vir Biotechnology by 0.6% in the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock valued at $125,362,000 after purchasing an additional 78,216 shares during the period. Millennium Management LLC grew its holdings in Vir Biotechnology by 94.6% in the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after purchasing an additional 606,804 shares during the period. Bank of New York Mellon Corp grew its holdings in Vir Biotechnology by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after purchasing an additional 6,359 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Vir Biotechnology by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after purchasing an additional 31,405 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Vir Biotechnology by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock valued at $5,673,000 after purchasing an additional 58,360 shares during the period. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.