Vir Biotechnology (NASDAQ:VIR) Trading Down 10.4% – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price was down 10.4% on Monday . The stock 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

A number of brokerages have recently weighed in on VIR. JPMorgan Chase & Co. upped their target price on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, January 10th. Leerink Partners boosted their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday. Finally, 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. One investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.83.

Vir Biotechnology Trading Down 2.8 %

The business’s fifty day moving average price is $8.27 and its two-hundred day moving average price is $8.37. The firm has a market cap of $1.41 billion, a P/E ratio of -2.61 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last announced 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). The company had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned ($1.22) EPS. Research analysts predict that Vir Biotechnology, Inc. will post -3.36 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 14,786 shares of company stock worth $170,172 in the last 90 days. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of VIR. Charles Schwab Investment Management Inc. boosted its position in shares of Vir Biotechnology by 13.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after acquiring an additional 136,087 shares in the last quarter. State Street Corp lifted its stake in Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares during the period. Affinity Asset Advisors LLC acquired a new stake in Vir Biotechnology during the second quarter valued at approximately $1,780,000. Point72 Hong Kong Ltd grew its stake in shares of Vir Biotechnology by 180.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 19,572 shares of the company’s stock valued at $174,000 after purchasing an additional 12,598 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Vir Biotechnology by 94.6% in the 2nd 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. Institutional investors own 65.32% of the company’s stock.

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).