Insider Selling: Vir Biotechnology, Inc. (NASDAQ:VIR) Director Sells 22,000 Shares of Stock

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total transaction of $112,200.00. Following the completion of the transaction, the director directly owned 1,298,391 shares in the company, valued at $6,621,794.10. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Vir Biotechnology Stock Up 6.3%

VIR traded up $0.32 during trading on Wednesday, hitting $5.43. The company had a trading volume of 1,390,524 shares, compared to its average volume of 1,353,051. The company has a market capitalization of $750.64 million, a PE ratio of -1.29 and a beta of 1.22. Vir Biotechnology, Inc. has a one year low of $4.32 and a one year high of $14.45. The firm's 50-day moving average price is $5.24 and its 200 day moving average price is $7.12.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $8.59 million. During the same period in the prior year, the firm earned ($0.48) EPS. The business's revenue for the quarter was down 94.6% compared to the same quarter last year. Sell-side analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VIR shares. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a report on Thursday, May 22nd. The Goldman Sachs Group cut their target price on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $32.86.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Tennessee Department of Treasury boosted its stake in shares of Vir Biotechnology by 3.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company's stock worth $288,000 after buying an additional 1,227 shares during the last quarter. Rhumbline Advisers raised its holdings in Vir Biotechnology by 0.5% during the fourth quarter. Rhumbline Advisers now owns 236,681 shares of the company's stock worth $1,737,000 after acquiring an additional 1,288 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock valued at $61,000 after purchasing an additional 1,999 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Vir Biotechnology by 10.7% during the fourth quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company's stock valued at $194,000 after purchasing an additional 2,556 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in 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 in the last quarter. 65.32% of the stock is currently 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).

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