Vir Biotechnology (NASDAQ:VIR) Trading 6.6% Higher - Here's What Happened

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) traded up 6.6% on Thursday . The stock traded as high as $5.07 and last traded at $5.07. 385,039 shares were traded during trading, a decline of 72% from the average session volume of 1,382,450 shares. The stock had previously closed at $4.76.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays lifted their price target on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, February 28th. The Goldman Sachs Group dropped their target price on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Vir Biotechnology in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.86.

Vir Biotechnology Stock Performance

The company has a 50 day moving average of $5.50 and a 200-day moving average of $7.50. The stock has a market cap of $700.87 million, a price-to-earnings ratio of -1.29 and a beta of 1.36.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.05). The business had revenue of $3.03 million for the quarter, compared to analyst estimates of $8.59 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.48) EPS. On average, research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, CEO Backer Marianne De sold 79,712 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the sale, the chief executive officer now owns 769,505 shares in the company, valued at $4,578,554.75. This represents a 9.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Vir Biotechnology

A number of large investors have recently made changes to their positions in VIR. State of Alaska Department of Revenue grew its holdings in shares of Vir Biotechnology by 33.0% during the fourth quarter. State of Alaska Department of Revenue now owns 202,441 shares of the company's stock worth $1,485,000 after buying an additional 50,199 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Vir Biotechnology by 0.5% in the 4th quarter. Rhumbline Advisers now owns 236,681 shares of the company's stock valued at $1,737,000 after purchasing an additional 1,288 shares during the last quarter. abrdn plc acquired a new position in shares of Vir Biotechnology in the fourth quarter valued at approximately $2,666,000. SBI Securities Co. Ltd. purchased a new stake in shares of Vir Biotechnology during the fourth quarter worth approximately $60,000. Finally, First Trust Advisors LP acquired a new stake in shares of Vir Biotechnology during the fourth quarter worth $93,000. 65.32% of the stock is 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).