Vir Biotechnology (NASDAQ:VIR) Sets New 1-Year Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VIR. Leerink Partners increased their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Thursday, February 27th. Finally, Barclays increased their target price on Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Vir Biotechnology Trading Down 5.1 %

The firm has a market capitalization of $904.46 million, a P/E ratio of -1.67 and a beta of 1.17. The stock’s 50-day simple moving average is $9.02 and its 200-day simple moving average is $8.38.

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

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the sale, the director now directly owns 708,295 shares in the company, valued at $6,948,373.95. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Verneuil Vanina De sold 7,373 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the completion of the sale, the executive vice president now directly owns 79,460 shares in the company, valued at $726,264.40. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,859 shares of company stock worth $326,458. Corporate insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Vir Biotechnology during the fourth quarter valued at approximately $42,000. SBI Securities Co. Ltd. purchased a new stake in shares of Vir Biotechnology during the fourth quarter valued at approximately $60,000. PNC Financial Services Group Inc. boosted its stake in shares of Vir Biotechnology by 31.8% during the fourth 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 during the period. KBC Group NV grew its holdings in shares of Vir Biotechnology by 136.5% in the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after purchasing an additional 5,177 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Vir Biotechnology in the fourth quarter worth $74,000. 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).