Vir Biotechnology (NASDAQ:VIR) Stock Price Down 4.7% - Time to Sell?

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 stock price dropped 4.7% on Monday . The company traded as low as $4.79 and last traded at $4.77. Approximately 566,515 shares were traded 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.

Analyst Upgrades and Downgrades

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

Vir Biotechnology Stock Performance

The firm has a fifty day simple moving average of $5.01 and a 200-day simple moving average of $5.48. The firm has a market cap of $719.61 million, a price-to-earnings ratio of -1.30 and a beta of 1.28.

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 analysts' consensus estimates of ($0.72) by ($0.08). The firm had revenue of $1.21 million for 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 quarterly revenue was down 60.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.02) EPS. Analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In related news, EVP Mark Eisner sold 6,796 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total value of $37,174.12. Following the completion of the transaction, the executive vice president owned 108,204 shares of the company's stock, valued at $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Sato sold 22,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $5.10, for a total value of $112,200.00. Following the completion of the transaction, the director directly owned 1,298,391 shares of the company's stock, valued at approximately $6,621,794.10. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,382 shares of company stock valued at $388,550. 16.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Vir Biotechnology in the second quarter valued at about $35,000. GAMMA Investing LLC grew its holdings in shares of Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after purchasing an additional 5,972 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Vir Biotechnology during the second quarter worth about $50,000. PNC Financial Services Group Inc. grew its holdings in shares of Vir Biotechnology by 26.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock worth $68,000 after purchasing an additional 2,171 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Vir Biotechnology during the first quarter worth about $70,000. 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).