Vicki Sato Sells 22,000 Shares of Vir Biotechnology (NASDAQ:VIR) Stock

Key Points

• Director Vicki Sato sold 22,000 shares of Vir Biotechnology at an average price of $5.84, totaling $128,480, which represents a 1.75% decrease in her stock position.
• Vir Biotechnology's most recent earnings report showed a loss of ($0.80) EPS, missing consensus estimates, with revenue down 60.5% year-over-year.
• Several analysts issued upgrades and target price increases for Vir Biotechnology, with a consensus rating of "Moderate Buy" and an average price target of $17.30.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) Director Vicki Sato sold 22,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $5.84, for a total transaction of $128,480.00. Following the transaction, the director owned 1,232,391 shares in the company, valued at $7,197,163.44. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Vir Biotechnology Price Performance

Vir Biotechnology stock traded down $0.26 during mid-day trading on Thursday, reaching $5.45. 514,653 shares of the company traded hands, compared to its average volume of 1,543,088. Vir Biotechnology, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $14.45. The company has a market capitalization of $756.42 million, a price-to-earnings ratio of -1.36 and a beta of 1.27. The firm's fifty day moving average is $4.99 and its two-hundred day moving average is $5.36.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The business had revenue of $1.21 million for the quarter, compared to analysts' expectations of $2.38 million. Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The company's revenue for the quarter was down 60.5% on a year-over-year basis. During the same period last year, the business earned ($1.02) EPS. As a group, equities research analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on VIR. Raymond James Financial began coverage on shares of Vir Biotechnology in a report on Friday, July 11th. They issued an "outperform" rating on the stock. Evercore ISI began coverage on shares of Vir Biotechnology in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Vir Biotechnology in a report on Monday, September 15th. Finally, Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and upped their price target for the company from $12.00 to $14.00 in a report on Wednesday, August 27th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.30.

Institutional Trading of Vir Biotechnology

A number of hedge funds have recently added to or reduced their stakes in VIR. ARCH Venture Management LLC acquired a new position in Vir Biotechnology during the second quarter worth $65,100,000. Orbimed Advisors LLC increased its position in Vir Biotechnology by 5.9% during the second quarter. Orbimed Advisors LLC now owns 2,380,715 shares of the company's stock worth $11,999,000 after purchasing an additional 132,466 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Vir Biotechnology by 9.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,374,874 shares of the company's stock worth $8,909,000 after buying an additional 122,219 shares during the period. Aberdeen Group plc boosted its stake in Vir Biotechnology by 45.3% during the second quarter. Aberdeen Group plc now owns 1,006,891 shares of the company's stock worth $5,075,000 after buying an additional 313,699 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Vir Biotechnology by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company's stock worth $4,813,000 after buying an additional 225,544 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

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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