Vir Biotechnology (NASDAQ:VIR) Major Shareholder Endurance (Cayman) Ltd Svf Sells 249,060 Shares

Vir Biotechnology, Inc. (NASDAQ:VIR) major shareholder Endurance (Cayman) Ltd Svf sold 249,060 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $6.14, for a total value of $1,529,228.40. Following the completion of the transaction, the insider owned 15,372,309 shares in the company, valued at $94,385,977.26. This represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Endurance (Cayman) Ltd Svf also recently made the following trade(s):

• On Friday, October 10th, Endurance (Cayman) Ltd Svf sold 2,300 shares of Vir Biotechnology stock. The stock was sold at an average price of $6.08, for a total value of $13,984.00.
• On Wednesday, October 8th, Endurance (Cayman) Ltd Svf sold 466,242 shares of Vir Biotechnology stock. The stock was sold at an average price of $6.05, for a total value of $2,820,764.10.
• On Tuesday, October 7th, Endurance (Cayman) Ltd Svf sold 72,133 shares of Vir Biotechnology stock. The stock was sold at an average price of $5.60, for a total value of $403,944.80.
• On Monday, October 6th, Endurance (Cayman) Ltd Svf sold 73,955 shares of Vir Biotechnology stock. The stock was sold at an average price of $5.69, for a total value of $420,803.95.
• On Friday, October 3rd, Endurance (Cayman) Ltd Svf sold 450,342 shares of Vir Biotechnology stock. The stock was sold at an average price of $5.56, for a total value of $2,503,901.52.

Vir Biotechnology Trading Down 2.4%

Shares of Vir Biotechnology stock opened at $5.72 on Wednesday. The business’s fifty day simple moving average is $5.08 and its 200 day simple moving average is $5.28. Vir Biotechnology, Inc. has a 12 month low of $4.16 and a 12 month high of $14.45. The firm has a market capitalization of $794.62 million, a P/E ratio of -1.43 and a beta of 1.27.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The firm had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $2.38 million. During the same period in the prior year, the business earned ($1.02) earnings per share. The business’s quarterly revenue was down 60.5% compared to the same quarter last year. Analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Vir Biotechnology during the second quarter worth about $35,000. GAMMA Investing LLC grew its position in 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 buying an additional 5,972 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in Vir Biotechnology during the second quarter worth about $50,000. PNC Financial Services Group Inc. grew its position in 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 buying an additional 2,171 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Vir Biotechnology during the first quarter worth about $70,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VIR. Bank of America raised Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Vir Biotechnology in a research report on Monday, September 15th. Raymond James Financial assumed coverage on Vir Biotechnology in a research report on Friday, July 11th. They issued an “outperform” rating for the company. Evercore ISI assumed coverage on Vir Biotechnology in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average price target of $17.30.

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).