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

Vir Biotechnology, Inc. (NASDAQ:VIR) Director Vicki Sato sold 22,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $5.84, for a total value of $128,480.00. Following the transaction, the director directly owned 1,232,391 shares in the company, valued at $7,197,163.44. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vir Biotechnology Stock Up 1.2%

Shares of VIR opened at $5.73 on Friday. 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 $796.01 million, a PE ratio of -1.43 and a beta of 1.27. The stock’s fifty day simple moving average is $4.99 and its 200-day simple moving average is $5.34.

Vir Biotechnology (NASDAQ:VIR) last issued 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). The firm had revenue of $1.21 million for the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The company’s revenue was down 60.5% compared to the same quarter last year. During the same period last year, the company earned ($1.02) EPS. Analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Analyst Ratings Changes

VIR has been the subject of a number of recent analyst reports. Raymond James Financial initiated coverage on Vir Biotechnology in a report on Friday, July 11th. They issued an “outperform” rating for the company. Evercore ISI started coverage on Vir Biotechnology in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 price target for the company. Bank of America upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $14.00 in a report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Vir Biotechnology in a report on Saturday, September 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a report on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Vir Biotechnology during the 2nd quarter worth approximately $35,000. GAMMA Investing LLC lifted its holdings in Vir Biotechnology by 524.3% during the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company’s stock worth $46,000 after purchasing an additional 5,972 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Vir Biotechnology during the 2nd quarter worth approximately $50,000. PNC Financial Services Group Inc. lifted 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 worth $68,000 after purchasing an additional 2,171 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in Vir Biotechnology during the 1st quarter worth approximately $70,000. 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).