Insider Selling: Vir Biotechnology, Inc. (NASDAQ:VIR) Director Sells 22,000 Shares of Stock

Vir Biotechnology, Inc. (NASDAQ:VIR) Director Vicki L. Sato sold 22,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $4.99, for a total transaction of $109,780.00. Following the completion of the sale, the director directly owned 1,276,391 shares of the company’s stock, valued at $6,369,191.09. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Vir Biotechnology Trading Up 1.4%

Shares of VIR opened at $5.10 on Tuesday. Vir Biotechnology, Inc. has a twelve month low of $4.32 and a twelve month high of $14.45. The firm has a market capitalization of $705.02 million, a P/E ratio of -1.21 and a beta of 1.18. The firm’s 50-day moving average is $5.31 and its two-hundred day moving average is $6.58.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The firm had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $8.59 million. During the same period last year, the firm earned ($0.48) EPS. Vir Biotechnology’s revenue was down 94.6% compared to the same quarter last year. Analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VIR shares. The Goldman Sachs Group dropped their price target on Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Raymond James Financial started coverage on Vir Biotechnology in a report on Friday, July 11th. They issued an “outperform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Institutional Trading of Vir Biotechnology

A number of institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vir Biotechnology in the fourth quarter valued at $42,000. GAMMA Investing LLC boosted its position in shares of Vir Biotechnology by 524.3% in the 1st 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 acquired a new stake in Vir Biotechnology in the 2nd quarter valued at about $50,000. PNC Financial Services Group Inc. increased its holdings in Vir Biotechnology by 26.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock valued at $68,000 after acquiring an additional 2,171 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in Vir Biotechnology during the 4th quarter valued at about $77,000. 65.32% of the stock is currently owned by hedge funds and other 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).