Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low at $7.65

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.65 and last traded at $7.69, with a volume of 160977 shares traded. The stock had previously closed at $8.04.

Analysts Set New Price Targets

Several brokerages recently commented on VIR. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, March 15th. JPMorgan Chase & Co. lifted their price target on shares of Vir Biotechnology from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

Vir Biotechnology Stock Down 4.5 %

The business’s 50 day simple moving average is $10.03 and its 200 day simple moving average is $9.60.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.28. The company had revenue of $16.80 million for the quarter, compared to analyst estimates of $11.18 million. Vir Biotechnology had a negative net margin of 713.69% and a negative return on equity of 34.92%. Vir Biotechnology’s quarterly revenue was down 66.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) earnings per share. Equities research analysts anticipate that Vir Biotechnology, Inc. will post -4.04 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In other news, EVP Phillip Pang sold 3,321 shares of Vir Biotechnology stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at $2,710,312.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Phillip Pang sold 3,321 shares of Vir Biotechnology stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at $2,710,312.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George A. Scangos sold 17,722 shares of Vir Biotechnology stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $11.65, for a total transaction of $206,461.30. Following the completion of the sale, the director now directly owns 112,989 shares in the company, valued at approximately $1,316,321.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,831 shares of company stock worth $1,525,844. 18.10% of the stock is owned by company insiders.

Institutional Trading of Vir Biotechnology

A number of institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in Vir Biotechnology by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 39,150 shares of the company’s stock worth $397,000 after buying an additional 4,917 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Vir Biotechnology by 9.2% in the first quarter. Ballentine Partners LLC now owns 13,704 shares of the company’s stock valued at $139,000 after purchasing an additional 1,160 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vir Biotechnology by 249.9% in the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $27,000 after purchasing an additional 1,934 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Vir Biotechnology by 20.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock valued at $113,000 after purchasing an additional 1,869 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Vir Biotechnology by 9.8% in the fourth quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock valued at $123,709,000 after purchasing an additional 1,096,473 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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.