Vir Biotechnology (NASDAQ:VIR) Reaches New 12-Month Low - Here's Why

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.

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $4.25 and last traded at $4.29, with a volume of 951812 shares trading hands. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Raymond James Financial assumed coverage on shares of Vir Biotechnology in a report on Friday, July 11th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $14.00 target price 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Vir Biotechnology Stock Performance

The company has a 50 day moving average of $5.31 and a two-hundred day moving average of $6.52. The stock has a market capitalization of $594.43 million, a PE ratio of -1.08 and a beta of 1.18.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.21 million for the quarter, compared to analyst estimates of $2.38 million. During the same quarter last year, the company earned ($1.02) EPS. The business's revenue was down 60.5% compared to the same quarter last year. As a group, research analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vir Biotechnology news, Director Vicki L. Sato sold 22,000 shares of the business'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 value of $109,780.00. Following the completion of the transaction, the director directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Eisner sold 6,796 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total transaction of $37,174.12. Following the completion of the sale, the executive vice president directly owned 108,204 shares of the company's stock, valued at approximately $591,875.88. The trade was a 5.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,582 shares of company stock worth $294,930 in the last quarter. Company insiders own 16.00% of the company's stock.

Institutional Trading of Vir Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Vir Biotechnology by 214.7% during the second quarter. Creative Planning now owns 37,759 shares of the company's stock worth $190,000 after purchasing an additional 25,760 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Vir Biotechnology by 24.1% in 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 purchasing an additional 4,407 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Vir Biotechnology by 25.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,159 shares of the company's stock worth $66,000 after purchasing an additional 2,700 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Vir Biotechnology by 30.3% in 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 period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Vir Biotechnology in the second quarter valued at about $63,000. Hedge funds and other institutional investors own 65.32% of the company's stock.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.