Vir Biotechnology, Inc. (NASDAQ:VIR) Short Interest Update

Key Points

• Vir Biotechnology experienced a significant increase in short interest, rising by 50.7% to approximately 11.29 million shares as of July 15th, indicating heightened bearish sentiment among investors.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Vir Biotechnology, with an average target price set at $30.25, despite a recent target price cut by Goldman Sachs from $28.00 to $21.00.
• The company's latest quarterly earnings report revealed a loss of ($0.80) EPS, missing estimates, with revenue down 60.5% year-over-year.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 11,290,000 shares, anincreaseof50.7% from the June 30th total of 7,490,000 shares. Currently,12.7% of the shares of the stock are sold short. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is presently 8.7 days. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is presently 8.7 days. Currently,12.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $4.99, for a total transaction of $109,780.00. Following the completion of the sale, the director directly owned 1,276,391 shares of the company's stock, valued at $6,369,191.09. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Eisner sold 6,796 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total transaction of $37,174.12. Following the sale, the executive vice president directly owned 108,204 shares of the company's stock, valued at approximately $591,875.88. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,582 shares of company stock valued at $294,930. Company insiders own 16.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vir Biotechnology in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC increased its stake in shares of Vir Biotechnology by 524.3% during the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after purchasing an additional 5,972 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Vir Biotechnology during the 2nd quarter worth $50,000. PNC Financial Services Group Inc. increased its stake in shares of Vir Biotechnology by 26.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock worth $68,000 after purchasing an additional 2,171 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Vir Biotechnology during the 1st quarter worth $70,000. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Price Performance

VIR stock opened at $5.08 on Thursday. Vir Biotechnology has a 52-week low of $4.32 and a 52-week high of $14.45. The company's 50 day simple moving average is $5.33 and its 200-day simple moving average is $6.56. The firm has a market capitalization of $702.26 million, a P/E ratio of -1.20 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,769.04% and a negative return on equity of 47.46%. During the same quarter last year, the business posted ($1.02) EPS. Vir Biotechnology's revenue was down 60.5% compared to the same quarter last year. Sell-side analysts predict that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

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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