Vir Biotechnology (NASDAQ:VIR) EVP Sells $26,717.70 in Stock

Key Points

• EVP Vanina de Verneuil sold 2,407 shares for $26,717.70, reducing her stake by 2.14% to 110,193 shares. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Vir Biotechnology shares rose 3.3% to $11.59 in Wednesday trading, near the top of their 12-month range of $4.82–$12.19.
• The company’s latest reported quarter beat EPS and revenue estimates. Analysts had a consensus “Moderate Buy” rating and an average price target of $21.86.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) EVP Vanina de Verneuil sold 2,407 shares of Vir Biotechnology stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $11.10, for a total value of $26,717.70. Following the transaction, the executive vice president directly owned 110,193 shares in the company, valued at approximately $1,223,142.30. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Verneuil Vanina De also recently made the following trade(s):

• On Monday, November 2nd, Vanina de Verneuil sold 1,343 shares of Vir Biotechnology stock. The stock was sold at an average price of $11.33, for a total value of $15,216.19.

Vir Biotechnology Trading Up 3.3%

NASDAQ VIR traded up $0.37 during trading on Wednesday, hitting $11.59. 1,277,018 shares of the company traded hands, compared to its average volume of 2,354,576. Vir Biotechnology, Inc. has a 12 month low of $4.82 and a 12 month high of $12.19. The business has a fifty day simple moving average of $10.99 and a 200 day simple moving average of $9.53. The company has a market capitalization of $1.96 billion, a P/E ratio of -6.23 and a beta of 1.70.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $238.95 million for the quarter, compared to analyst estimates of $135.88 million. During the same period in the prior year, the firm posted ($0.80) EPS. Vir Biotechnology's revenue for the quarter was up 19582.5% on a year-over-year basis. Equities research analysts predict that Vir Biotechnology, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Trading of Vir Biotechnology

A number of large investors have recently made changes to their positions in VIR. Allspring Global Investments Holdings LLC boosted its position in Vir Biotechnology by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 55,135 shares of the company's stock worth $616,000 after purchasing an additional 2,164 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Vir Biotechnology by 3.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,468 shares of the company's stock valued at $318,000 after buying an additional 900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Vir Biotechnology in the third quarter worth $97,000. ProShare Advisors LLC lifted its holdings in shares of Vir Biotechnology by 6.4% during the 3rd quarter. ProShare Advisors LLC now owns 24,507 shares of the company's stock worth $274,000 after acquiring an additional 1,464 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Vir Biotechnology in the 3rd quarter valued at $438,000. Institutional investors own 65.32% of the company's stock.

Wall Street Analyst Weigh In

VIR has been the subject of a number of research reports. HC Wainwright raised their target price on Vir Biotechnology from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th. Morgan Stanley set a $25.00 target price on shares of Vir Biotechnology in a research report on Thursday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Vir Biotechnology in a report on Friday, October 2nd. Zacks Research cut shares of Vir Biotechnology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen raised Vir Biotechnology from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.86.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir's research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.

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