Endurance (Cayman) Ltd Svf Sells 2,300 Shares of Vir Biotechnology (NASDAQ:VIR) Stock

Key Points

• Endurance (Cayman) Ltd Svf sold 2,300 shares of Vir Biotechnology stock for a total of $13,984 on October 10th, reducing its ownership to approximately 15.37 million shares.
• Vir Biotechnology's stock price decreased by 2.4% to $5.72 following a trend of recent sales by major shareholders, but it has a market cap of $794.62 million.
• The company reported a significant earnings miss with a loss of ($0.80) per share in its last quarterly results and a year-over-year revenue decline of 60.5% to $1.21 million.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) major shareholder Endurance (Cayman) Ltd Svf sold 2,300 shares of Vir Biotechnology stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $6.08, for a total transaction of $13,984.00. Following the transaction, the insider owned 15,370,009 shares of the company's stock, valued at $93,449,654.72. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Endurance (Cayman) Ltd Svf also recently made the following trade(s):

• On Thursday, October 9th, Endurance (Cayman) Ltd Svf sold 249,060 shares of Vir Biotechnology stock. The shares were sold at an average price of $6.14, for a total transaction of $1,529,228.40.
• On Wednesday, October 8th, Endurance (Cayman) Ltd Svf sold 466,242 shares of Vir Biotechnology stock. The shares were sold at an average price of $6.05, for a total transaction of $2,820,764.10.
• On Tuesday, October 7th, Endurance (Cayman) Ltd Svf sold 72,133 shares of Vir Biotechnology stock. The shares were sold at an average price of $5.60, for a total transaction of $403,944.80.
• On Monday, October 6th, Endurance (Cayman) Ltd Svf sold 73,955 shares of Vir Biotechnology stock. The shares were sold at an average price of $5.69, for a total transaction of $420,803.95.
• On Friday, October 3rd, Endurance (Cayman) Ltd Svf sold 450,342 shares of Vir Biotechnology stock. The shares were sold at an average price of $5.56, for a total transaction of $2,503,901.52.

Vir Biotechnology Trading Down 2.4%

Shares of VIR traded down $0.14 during trading hours on Tuesday, reaching $5.72. 632,461 shares of the stock traded hands, compared to its average volume of 1,545,372. The stock has a fifty day simple moving average of $5.07 and a 200 day simple moving average of $5.28. Vir Biotechnology, Inc. has a 52 week low of $4.16 and a 52 week 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 - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.21 million for the quarter, compared to the consensus estimate of $2.38 million. During the same period in the previous year, the business earned ($1.02) earnings per share. The firm's revenue for the quarter was down 60.5% on a year-over-year basis. Analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI initiated coverage on shares of Vir Biotechnology in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vir Biotechnology in a research report on Tuesday. Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Vir Biotechnology in a research report on Monday, September 15th. Finally, Raymond James Financial initiated coverage on shares of Vir Biotechnology in a research report on Friday, July 11th. They issued an "outperform" rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.30.

Institutional Trading of Vir Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of VIR. Raymond James Financial Inc. bought a new stake in shares of Vir Biotechnology in the second quarter valued at approximately $35,000. GAMMA Investing LLC increased its holdings in Vir Biotechnology by 524.3% during the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after acquiring an additional 5,972 shares during the period. Apollon Wealth Management LLC bought a new stake in Vir Biotechnology during the 2nd quarter worth approximately $50,000. Daiwa Securities Group Inc. increased its holdings in Vir Biotechnology by 2,200.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company's stock worth $62,000 after acquiring an additional 11,773 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Vir Biotechnology during the 2nd quarter worth approximately $63,000. Institutional investors own 65.32% of the company's stock.

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).

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