Vir Biotechnology’s (VIR) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d-) rating on shares of Vir Biotechnology (NASDAQ:VIR) in a report published on Tuesday,Weiss Ratings reports.

Several other brokerages also recently weighed in on VIR. Raymond James Financial started coverage on Vir Biotechnology in a research note on Friday, July 11th. They set an “outperform” rating for the company. Bank of America upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their target price for the company from $12.00 to $14.00 in a research note on Wednesday, August 27th. Evercore ISI started coverage on Vir Biotechnology in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $12.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Vir Biotechnology in a research note on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vir Biotechnology currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.30.

Vir Biotechnology Trading Down 4.4%

Shares of NASDAQ VIR opened at $5.80 on Tuesday. Vir Biotechnology has a 12-month low of $4.16 and a 12-month high of $14.45. The company has a market cap of $805.74 million, a P/E ratio of -1.45 and a beta of 1.27. The stock has a fifty day moving average price of $5.13 and a 200 day moving average price of $5.28.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. During the same quarter in the prior year, the company posted ($1.02) earnings per share. The firm’s revenue for the quarter was down 60.5% on a year-over-year basis. On average, sell-side analysts forecast that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $5.84, for a total transaction of $128,480.00. Following the transaction, the director owned 1,232,391 shares of the company’s stock, valued at approximately $7,197,163.44. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $6.05, for a total transaction of $2,820,764.10. Following the transaction, the insider directly owned 15,621,369 shares in the company, valued at $94,509,282.45. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,380,032 shares of company stock worth $8,040,667 in the last ninety days. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of Vir Biotechnology during the first quarter worth about $78,000. Cinctive Capital Management LP bought a new position in Vir Biotechnology in the first quarter worth about $547,000. Clarius Group LLC lifted its holdings in Vir Biotechnology by 979.7% in the second quarter. Clarius Group LLC now owns 617,535 shares of the company’s stock worth $3,112,000 after acquiring an additional 560,342 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Vir Biotechnology by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company’s stock worth $4,813,000 after acquiring an additional 225,544 shares during the last quarter. Finally, GAMMA Investing LLC lifted 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 acquiring an additional 5,972 shares during the last quarter. Institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

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).