Vir Biotechnology (NASDAQ:VIR) Hits New 12-Month Low at $7.65

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $7.65 and last traded at $7.69, with a volume of 160977 shares trading hands. The stock had previously closed at $8.04.

Analysts Set New Price Targets

Several research firms have commented on VIR. HC Wainwright restated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their price target on Vir Biotechnology from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.38.

Vir Biotechnology Trading Down 5.1 %

The stock has a 50-day simple moving average of $9.98 and a 200-day simple moving average of $9.59. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.66 and a beta of 0.41.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.28. The business had revenue of $16.80 million for the quarter, compared to analyst estimates of $11.18 million. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. The business's revenue was down 66.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.76) EPS. On average, research analysts forecast that Vir Biotechnology, Inc. will post -4.04 EPS for the current year.

Insider Buying and Selling

In other news, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the transaction, the chief executive officer now owns 678,457 shares of the company's stock, valued at $6,418,203.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director George A. Scangos sold 17,722 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $11.65, for a total transaction of $206,461.30. Following the completion of the transaction, the director now owns 112,989 shares of the company's stock, valued at $1,316,321.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Backer Marianne De sold 72,995 shares of the firm's stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares of the company's stock, valued at approximately $6,418,203.22. The disclosure for this sale can be found here. Insiders sold a total of 152,831 shares of company stock worth $1,525,844 in the last three months. 18.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds have recently modified their holdings of VIR. Vanguard Group Inc. lifted its holdings in shares of Vir Biotechnology by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company's stock valued at $123,709,000 after purchasing an additional 1,096,473 shares during the last quarter. Algert Global LLC purchased a new stake in Vir Biotechnology in the 3rd quarter worth about $4,214,000. Barclays PLC lifted its stake in Vir Biotechnology by 124.6% in the 3rd quarter. Barclays PLC now owns 412,161 shares of the company's stock worth $3,863,000 after acquiring an additional 228,634 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Vir Biotechnology by 68.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 525,317 shares of the company's stock worth $4,922,000 after acquiring an additional 213,477 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Vir Biotechnology by 41.0% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 708,257 shares of the company's stock worth $6,636,000 after acquiring an additional 205,913 shares in the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.