Vir Biotechnology, Inc. (NASDAQ:VIR) Director Sells $109,780.00 in Stock

Key Points

• Vir Biotechnology's Director Vicki L. Sato sold 22,000 shares for $109,780 on August 1st, reducing her ownership stake by 1.69%.
• The company recently reported a negative earnings per share of ($0.88), missing estimates and showing a significant revenue drop of 94.6% year-over-year.
• Analysts have mixed outlooks, with Goldman Sachs reducing their target price from $28.00 to $21.00, while others maintain a "buy" rating with a consensus target around $30.25.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) Director Vicki L. Sato sold 22,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $4.99, for a total transaction of $109,780.00. Following the completion of the sale, the director owned 1,276,391 shares in the company, valued at $6,369,191.09. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vir Biotechnology Trading Up 1.9%

NASDAQ:VIR traded up $0.10 on Monday, hitting $5.13. 272,148 shares of the company's stock traded hands, compared to its average volume of 1,590,673. Vir Biotechnology, Inc. has a 1 year low of $4.32 and a 1 year high of $14.45. The firm has a 50-day moving average price of $5.30 and a 200-day moving average price of $6.62. The company has a market cap of $708.47 million, a PE ratio of -1.21 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.03 million during the quarter, compared to analyst estimates of $8.59 million. During the same quarter last year, the firm posted ($0.48) earnings per share. The firm's revenue for the quarter was down 94.6% compared to the same quarter last year. On average, research analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on VIR. The Goldman Sachs Group dropped 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 report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $14.00 target price on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Finally, Raymond James Financial started coverage on shares of Vir Biotechnology in a research report on Friday, July 11th. They set an "outperform" rating for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Hedge Funds Weigh In On Vir Biotechnology

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vir Biotechnology during the fourth quarter worth about $42,000. GAMMA Investing LLC grew its holdings in shares of Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after buying an additional 5,972 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of Vir Biotechnology during the second quarter worth about $50,000. PNC Financial Services Group Inc. grew its holdings in shares of Vir Biotechnology by 26.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock worth $68,000 after buying an additional 2,171 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Vir Biotechnology during the first quarter worth about $70,000. Institutional investors and hedge funds 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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