Vir Biotechnology (NASDAQ:VIR) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Vir Biotechnology has been given a "Sell (D-)" rating by Weiss Ratings, despite several analysts issuing "buy" or "outperform" ratings and setting higher price targets for the stock.
• The company reported a significant loss in its recent earnings, with revenues down 60.5% year-over-year, and missed analysts' estimates.
• Insider activity showed a decrease in ownership as both the director and a major shareholder sold substantial amounts of stock in recent transactions.

Vir Biotechnology (NASDAQ:VIR - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on VIR. Evercore ISI initiated coverage on Vir Biotechnology in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 target price for the company. Raymond James Financial initiated coverage on Vir Biotechnology in a research report on Friday, July 11th. They set an "outperform" rating for the company. Bank of America raised Vir Biotechnology from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. Finally, HC Wainwright reissued a "buy" rating and set a $15.00 price objective on shares of Vir Biotechnology in a research report on Monday, September 15th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $17.30.

Vir Biotechnology Price Performance

Shares of NASDAQ:VIR traded down $0.08 during midday trading on Tuesday, reaching $5.78. 194,508 shares of the company's stock were exchanged, compared to its average volume of 1,543,093. The firm's 50 day simple moving average is $5.07 and its two-hundred day simple moving average is $5.28. The stock has a market cap of $802.96 million, a price-to-earnings ratio of -1.44 and a beta of 1.27. Vir Biotechnology has a fifty-two week low of $4.16 and a fifty-two week high of $14.45.

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

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 22,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $5.84, for a total value of $128,480.00. Following the completion of the sale, the director owned 1,232,391 shares in the company, valued at approximately $7,197,163.44. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $6.05, for a total value of $2,820,764.10. Following the completion of the sale, the insider owned 15,621,369 shares of the company's stock, valued at approximately $94,509,282.45. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,132,258 shares of company stock valued at $6,517,070. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Vir Biotechnology in the first quarter valued at approximately $78,000. Cinctive Capital Management LP acquired a new position in shares of Vir Biotechnology in the first quarter valued at approximately $547,000. Clarius Group LLC increased its holdings in shares of Vir Biotechnology by 979.7% in the second quarter. Clarius Group LLC now owns 617,535 shares of the company's stock valued at $3,112,000 after purchasing an additional 560,342 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Vir Biotechnology by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company's stock valued at $4,813,000 after purchasing an additional 225,544 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Vir Biotechnology by 524.3% in the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after purchasing an additional 5,972 shares during the period. Hedge funds and other 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).

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