Vir Biotechnology (NASDAQ:VIR) Shares Down 6% on Insider Selling

Key Points

• Vir Biotechnology's stock declined by 6% after insider selling, with shares trading as low as $5.30 before closing at $5.18.
• Director Vicki L. Sato sold 22,000 shares at an average price of $4.99, decreasing her ownership in the company by 1.72%.
• Despite recent sell-offs, analysts have rated Vir Biotechnology positively, with a consensus rating of "Moderate Buy" and a price target of $26.80.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) shares traded down 6% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $5.30 and last traded at $5.18. 393,392 shares changed hands during trading, a decline of 75% from the average session volume of 1,590,033 shares. The stock had previously closed at $5.51.

Specifically, Director Vicki L. Sato sold 22,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.99, for a total value of $109,780.00. Following the completion of the sale, the director owned 1,254,391 shares of the company's stock, valued at $6,259,411.09. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

VIR has been the subject of a number of recent research reports. Evercore ISI initiated coverage on shares of Vir Biotechnology in a report on Wednesday. They issued an "outperform" rating and a $12.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a 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 for the company. Finally, Bank of America raised shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and upped their price target for the stock from $12.00 to $14.00 in a report on Wednesday, August 27th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.80.

Vir Biotechnology Stock Performance

The firm has a market cap of $732.09 million, a P/E ratio of -1.32 and a beta of 1.28. The company's 50 day moving average is $5.09 and its 200 day moving average is $5.72.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $2.38 million. Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. Vir Biotechnology's revenue for the quarter was down 60.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.02) EPS. On average, equities research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Vir Biotechnology in the 2nd quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vir Biotechnology in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC increased its position in Vir Biotechnology by 524.3% in the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after acquiring an additional 5,972 shares during the period. Apollon Wealth Management LLC acquired a new position in Vir Biotechnology in the 2nd quarter valued at approximately $50,000. Finally, Daiwa Securities Group Inc. increased its position in Vir Biotechnology by 2,200.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company's stock valued at $62,000 after acquiring an additional 11,773 shares during the period. 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).