Vir Biotechnology’s (VIR) Sell (D-) Rating Reaffirmed at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research report report published on Tuesday morning,Weiss Ratings reports.

VIR has been the topic of several other reports. Evercore ISI started coverage on Vir Biotechnology in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $12.00 target price on the stock. Bank of America upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Vir Biotechnology in a research note on Monday, September 15th. Finally, Raymond James Financial assumed coverage on Vir Biotechnology in a research note on Friday, July 11th. They issued an “outperform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Vir Biotechnology currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

Vir Biotechnology Trading Down 2.4%

Shares of VIR opened at $5.72 on Tuesday. The business’s fifty day simple moving average is $5.08 and its two-hundred day simple moving average is $5.28. Vir Biotechnology has a 12 month low of $4.16 and a 12 month high of $14.45. The company has a market cap of $794.62 million, a price-to-earnings ratio of -1.43 and a beta of 1.27.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The business had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $2.38 million. During the same quarter in the prior year, the business posted ($1.02) earnings per share. The business’s revenue for the quarter was down 60.5% on a year-over-year basis. As a group, research analysts forecast that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $6.05, for a total transaction of $2,820,764.10. Following the completion of the transaction, the insider owned 15,621,369 shares in the company, valued at $94,509,282.45. The trade was a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $5.84, for a total value of $128,480.00. Following the transaction, the director owned 1,232,391 shares of the company’s stock, valued at $7,197,163.44. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,383,618 shares of company stock valued at $8,060,282 in the last 90 days. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Clarius Group LLC boosted its holdings in shares of Vir Biotechnology by 0.3% in the third quarter. Clarius Group LLC now owns 619,312 shares of the company’s stock valued at $3,536,000 after purchasing an additional 1,777 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Vir Biotechnology by 26.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock valued at $68,000 after purchasing an additional 2,171 shares during the period. Rhumbline Advisers boosted its holdings in shares of Vir Biotechnology by 1.0% in the second quarter. Rhumbline Advisers now owns 228,949 shares of the company’s stock valued at $1,154,000 after purchasing an additional 2,300 shares during the period. Focus Partners Wealth boosted its holdings in shares of Vir Biotechnology by 15.3% in the first quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock valued at $125,000 after purchasing an additional 2,566 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Vir Biotechnology by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,290 shares of the company’s stock valued at $248,000 after purchasing an additional 3,209 shares during the period. Hedge funds and other 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).