Vir Biotechnology (NASDAQ:VIR) Major Shareholder Sells $2,503,901.52 in Stock

Key Points

• Endurance (Cayman) Ltd Svf sold 450,342 shares of Vir Biotechnology stock for a total of $2,503,901.52, resulting in a 2.70% decrease in their ownership position.
• Vir Biotechnology reported a significant decline in quarterly revenue, down 60.5% year-over-year, with a loss of ($0.80) EPS, missing analysts’ expectations.
• Analysts have mixed ratings on Vir Biotechnology, with targets ranging from $12.00 to $15.00, and a consensus average price target of $17.30.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) major shareholder Endurance (Cayman) Ltd Svf sold 450,342 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $5.56, for a total value of $2,503,901.52. Following the transaction, the insider owned 16,233,699 shares in the company, valued at $90,259,366.44. This trade represents a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Endurance (Cayman) Ltd Svf also recently made the following trade(s):

• On Monday, October 6th, Endurance (Cayman) Ltd Svf sold 73,955 shares of Vir Biotechnology stock. The shares were sold at an average price of $5.69, for a total transaction of $420,803.95.

Vir Biotechnology Stock Performance

Shares of VIR traded up $0.07 during mid-day trading on Tuesday, hitting $5.66. 875,856 shares of the company were exchanged, compared to its average volume of 1,541,135. The stock has a market cap of $786.26 million, a price-to-earnings ratio of -1.42 and a beta of 1.27. Vir Biotechnology, Inc. has a 1-year low of $4.16 and a 1-year high of $14.45. The company has a 50 day moving average of $4.99 and a 200-day moving average of $5.31.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The firm 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%.Vir Biotechnology's quarterly revenue was down 60.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.02) earnings per share. Research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on VIR. Raymond James Financial began coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They set an "outperform" rating on the stock. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Vir Biotechnology in a research note on Monday, September 15th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Vir Biotechnology in a report on Saturday, September 27th. Bank of America upgraded 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 research report on Wednesday, August 27th. Finally, Evercore ISI began coverage on Vir Biotechnology in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.30.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Vir Biotechnology in the 2nd quarter valued at $35,000. GAMMA Investing LLC grew its stake in shares of Vir Biotechnology by 524.3% in the 1st 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 last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Vir Biotechnology during the second quarter worth approximately $50,000. Daiwa Securities Group Inc. lifted its holdings in shares of Vir Biotechnology by 2,200.6% during the second quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company's stock worth $62,000 after purchasing an additional 11,773 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Vir Biotechnology in the 2nd quarter valued at $63,000. 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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