Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low – Here’s Why

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.13 and last traded at $5.21, with a volume of 173032 shares trading hands. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Barclays boosted their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Leerink Partners raised their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Vir Biotechnology Price Performance

The stock has a market capitalization of $711.77 million, a P/E ratio of -1.32 and a beta of 1.14. The stock’s fifty day moving average price is $8.04 and its 200 day moving average price is $8.24.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. The business had revenue of $12.37 million for the quarter, compared to analyst estimates of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. On average, sell-side analysts expect that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the transaction, the director now directly owns 708,295 shares of the company’s stock, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total value of $67,389.22. Following the sale, the executive vice president now owns 79,460 shares of the company’s stock, valued at approximately $726,264.40. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,611 shares of company stock worth $663,525. 15.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Vir Biotechnology by 13.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after buying an additional 136,087 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Vir Biotechnology in the third quarter valued at approximately $118,000. Verition Fund Management LLC purchased a new position in Vir Biotechnology in the third quarter worth $395,000. State Street Corp increased its position in shares of Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Vir Biotechnology by 1.3% during the 3rd quarter. Barclays PLC now owns 550,186 shares of the company’s stock valued at $4,121,000 after purchasing an additional 7,287 shares during the last quarter. Hedge funds and other 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).