Vir Biotechnology (NASDAQ:VIR) Sets New 12-Month Low - What's Next?

Key Points

• Vir Biotechnology's stock hit a new 52-week low at $4.25, closing at $4.29, amidst trading volume of 951,812 shares.
• Analyst ratings are largely positive, with seven analysts giving a "buy" rating and an average target price of $30.25, despite the company posting a negative earnings report.
• Company insiders have been selling shares recently, with Director Vicki L. Sato selling 22,000 shares for approximately $109,780 on August 1st.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $4.25 and last traded at $4.29, with a volume of 951812 shares traded. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VIR. 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. Raymond James Financial began coverage on shares of Vir Biotechnology in a report on Friday, July 11th. They set an "outperform" rating on the stock. Finally, The Goldman Sachs Group dropped their price objective on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology currently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Vir Biotechnology Stock Up 4.5%

The company's fifty day moving average is $5.27 and its two-hundred day moving average is $6.36. The firm has a market capitalization of $632.78 million, a price-to-earnings ratio of -1.14 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted 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 return on equity of 50.22% and a negative net margin of 2,895.94%. The company's revenue for the quarter was down 60.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.02) earnings per share. On average, equities research analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Mark Eisner sold 6,796 shares of the firm's stock in a transaction 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 in the company, valued at $591,875.88. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vicki L. Sato sold 22,000 shares of the firm's stock in a transaction 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 sale, the director owned 1,276,391 shares in the company, valued at approximately $6,369,191.09. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,582 shares of company stock worth $294,930. 16.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VIR. Baker BROS. Advisors LP acquired a new position in shares of Vir Biotechnology during the 4th quarter worth about $7,961,000. Point72 Asset Management L.P. boosted its holdings in shares of Vir Biotechnology by 16,169.5% during the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock worth $6,228,000 after buying an additional 843,239 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Vir Biotechnology by 58.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock worth $14,059,000 after buying an additional 703,360 shares during the period. Millennium Management LLC boosted its holdings in shares of Vir Biotechnology by 55.3% during the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock worth $12,589,000 after buying an additional 610,367 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Vir Biotechnology by 403.7% during the 2nd quarter. Nordea Investment Management AB now owns 704,377 shares of the company's stock worth $3,677,000 after buying an additional 564,537 shares during the period. 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).