Vir Biotechnology (NASDAQ:VIR) Trading 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)'s share price was down 6% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $5.30 and last traded at $5.18. Approximately 393,392 shares changed hands during trading, a decline of 75% from the average daily 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 stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $4.99, for a total value of $109,780.00. Following the transaction, the director owned 1,254,391 shares in the company, valued at $6,259,411.09. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Several brokerages have recently weighed in on VIR. Evercore ISI assumed coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $14.00 price objective on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Raymond James Financial assumed coverage on shares of Vir Biotechnology in a research report on Friday, July 11th. They set an "outperform" rating on the stock. Finally, Bank of America upgraded shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.80.

Vir Biotechnology Price Performance

The firm's 50-day moving average is $5.09 and its two-hundred day moving average is $5.66. The company has a market cap of $723.08 million, a P/E ratio of -1.30 and a beta of 1.28.

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 for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The firm had revenue of $1.21 million for the quarter, compared to the consensus estimate of $2.38 million. During the same quarter last year, the firm earned ($1.02) EPS. The company's revenue was down 60.5% on a year-over-year basis. As a group, sell-side analysts expect that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Vir Biotechnology in the second quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Vir Biotechnology in the fourth quarter worth about $42,000. GAMMA Investing LLC raised its holdings in Vir Biotechnology by 524.3% in 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 in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Vir Biotechnology during the second quarter valued at about $50,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Vir Biotechnology by 2,200.6% during the second 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 in the last quarter. 65.32% of the stock is currently owned by institutional investors.

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).