Vir Biotechnology (NASDAQ:VIR) Sets New 12-Month Low at $7.13

Vir Biotechnology, Inc. (NASDAQ:VIR) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.13 and last traded at $7.18, with a volume of 157278 shares traded. The stock had previously closed at $7.49.

Analyst Ratings Changes

VIR has been the subject of several analyst reports. Morgan Stanley boosted their price target on Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, June 6th. Barclays upped their target price on Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC raised their price target on Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Vir Biotechnology Stock Down 1.7 %

The company has a 50 day simple moving average of $8.50 and a 200 day simple moving average of $9.22. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.81 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13). Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The business had revenue of $3.08 million for the quarter, compared to analyst estimates of $7.53 million. During the same period last year, the company posted ($1.45) EPS. The firm’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, research analysts forecast that Vir Biotechnology, Inc. will post -3.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its holdings in Vir Biotechnology by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 74,977 shares of the company’s stock valued at $760,000 after purchasing an additional 1,012 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Vir Biotechnology by 9.2% during the 1st quarter. Ballentine Partners LLC now owns 13,704 shares of the company’s stock valued at $139,000 after buying an additional 1,160 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Vir Biotechnology by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company’s stock worth $390,000 after buying an additional 1,200 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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 worth $113,000 after buying an additional 1,869 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake 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 worth $27,000 after buying an additional 1,934 shares during the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

About Vir Biotechnology

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).