Vir Biotechnology, Inc. (NASDAQ:VIR) Director Vicki L. Sato Sells 22,000 Shares

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 firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $4.99, for a total transaction of $109,780.00. Following the transaction, the director owned 1,276,391 shares of the company's stock, valued at approximately $6,369,191.09. The trade was a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vir Biotechnology Trading Down 0.6%

Vir Biotechnology stock traded down $0.03 during midday trading on Friday, reaching $4.33. The stock had a trading volume of 476,007 shares, compared to its average volume of 1,582,138. The company has a fifty day moving average price of $5.31 and a two-hundred day moving average price of $6.52. Vir Biotechnology, Inc. has a 12 month low of $4.26 and a 12 month high of $14.45. The company has a market capitalization of $597.89 million, a P/E ratio of -1.08 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 48.06%. The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. During the same period last year, the business posted ($1.02) EPS. The company's revenue was down 60.5% on a year-over-year basis. On average, equities research analysts predict that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VIR has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Raymond James Financial started coverage on Vir Biotechnology in a report on Friday, July 11th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.25.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors have recently added to or reduced their stakes in VIR. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Vir Biotechnology by 24.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 22,723 shares of the company's stock valued at $115,000 after buying an additional 4,407 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Vir Biotechnology by 25.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,159 shares of the company's stock valued at $66,000 after acquiring an additional 2,700 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Vir Biotechnology by 30.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,910 shares of the company's stock valued at $252,000 after purchasing an additional 11,620 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Vir Biotechnology during the second quarter worth about $63,000. Finally, Corton Capital Inc. bought a new position in Vir Biotechnology during the second quarter worth about $114,000. Institutional investors 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).