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

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

Wall Street Analyst Weigh In

VIR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Vir Biotechnology from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, March 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average target price of $34.38.

Vir Biotechnology Price Performance

The company’s 50-day moving average price is $9.94 and its two-hundred day moving average price is $9.58. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -1.79 and a beta of 0.41.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.28. The firm had revenue of $16.80 million during the quarter, compared to the consensus estimate of $11.18 million. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. The business’s revenue was down 66.0% compared to the same quarter last year. During the same period last year, the business posted ($0.76) EPS. On average, equities research analysts expect that Vir Biotechnology, Inc. will post -4.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vir Biotechnology news, EVP Phillip Pang sold 3,321 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.24, for a total transaction of $34,007.04. Following the transaction, the executive vice president now directly owns 264,679 shares in the company, valued at approximately $2,710,312.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ann M. Hanly sold 12,296 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $10.05, for a total transaction of $123,574.80. Following the transaction, the executive vice president now directly owns 134,780 shares of the company’s stock, valued at approximately $1,354,539. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Phillip Pang sold 3,321 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the completion of the sale, the executive vice president now directly owns 264,679 shares of the company’s stock, valued at approximately $2,710,312.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,831 shares of company stock worth $1,525,844. 18.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently modified their holdings of the company. Ballentine Partners LLC lifted its position in Vir Biotechnology by 9.2% in the 1st quarter. Ballentine Partners LLC now owns 13,704 shares of the company’s stock valued at $139,000 after acquiring an additional 1,160 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Vir Biotechnology by 6.0% during the fourth quarter. Arizona State Retirement System now owns 26,271 shares of the company’s stock valued at $264,000 after buying an additional 1,476 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Vir Biotechnology by 69.3% during the third quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock valued at $37,000 after buying an additional 1,613 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Vir Biotechnology by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock worth $32,000 after buying an additional 1,692 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Vir Biotechnology by 7.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,468 shares of the company’s stock valued at $239,000 after buying an additional 1,700 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors.

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.