Vir Biotechnology (NASDAQ:VIR) Shares Down 4.7% - What's Next?

Key Points

• Vir Biotechnology's stock price fell by 4.7% to $4.77, with a significant decrease in trading volume, down 64% from average daily levels.
• Analysts have set varying price targets for Vir Biotechnology, with estimates ranging from $12.00 to $17.30, reflecting a general outlook of a Moderate Buy.
• The company reported a substantial quarterly loss with an EPS of ($0.80), missing expectations, and a revenue decline of 60.5% year-over-year.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report)'s share price dropped 4.7% during mid-day trading on Monday . The stock traded as low as $4.79 and last traded at $4.77. Approximately 566,515 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,567,714 shares. The stock had previously closed at $5.00.

Analysts Set New Price Targets

Several research analysts recently commented on VIR shares. Evercore ISI started coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Vir Biotechnology in a research note on Monday. Raymond James Financial started coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They issued an "outperform" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Finally, Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and raised their target price for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Vir Biotechnology has an average rating of "Moderate Buy" and an average target price of $17.30.

Vir Biotechnology Stock Performance

The business's 50 day moving average is $5.07 and its 200 day moving average is $5.55. The company has a market capitalization of $665.43 million, a price-to-earnings ratio of -1.20 and a beta of 1.28.

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

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction that occurred on Tuesday, September 2nd. 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 1,254,391 shares in the company, valued at approximately $6,259,411.09. The trade was a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Eisner sold 6,796 shares of Vir Biotechnology 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 owned 108,204 shares of the company's stock, valued at approximately $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,382 shares of company stock valued at $388,550. Company insiders own 16.00% of the company's stock.

Institutional Trading of Vir Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of VIR. ARCH Venture Management LLC acquired a new stake in Vir Biotechnology during the 2nd quarter valued at approximately $65,100,000. Point72 Asset Management L.P. increased 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 valued at $6,228,000 after purchasing an additional 843,239 shares in the last quarter. Millennium Management LLC increased 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 valued at $12,589,000 after purchasing an additional 610,367 shares in the last quarter. Nordea Investment Management AB increased 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 valued at $3,677,000 after purchasing an additional 564,537 shares in the last quarter. Finally, Clarius Group LLC increased its holdings in shares of Vir Biotechnology by 979.7% during the 2nd 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 in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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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