Vir Biotechnology (NASDAQ:VIR) Shares Gap Down – Should You Sell?

Vir Biotechnology, Inc. (NASDAQ:VIR) gapped down before the market opened on Friday . The stock had previously closed at $9.34, but opened at $9.00. Vir Biotechnology shares last traded at $8.8070, with a volume of 436,770 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VIR. Morgan Stanley raised their price objective on shares of Vir Biotechnology from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. Leerink Partners upped their price target on shares of Vir Biotechnology from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of Vir Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.88.

Vir Biotechnology Trading Down 5.6%

The business has a 50-day simple moving average of $9.35 and a 200 day simple moving average of $8.85. The stock has a market cap of $1.49 billion, a P/E ratio of -2.82 and a beta of 1.62.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.84). Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 53.31%. The company had revenue of ($0.03) million during the quarter, compared to analyst estimates of $55.49 million. During the same period in the previous year, the company posted ($0.88) EPS. As a group, equities analysts expect that Vir Biotechnology, Inc. will post -1.81 earnings per share for the current year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Janet Napolitano sold 3,200 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $9.45, for a total transaction of $30,240.00. Following the completion of the sale, the director owned 21,216 shares of the company’s stock, valued at approximately $200,491.20. This represents a 13.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicki L. Sato sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $10.05, for a total transaction of $221,100.00. Following the transaction, the director owned 1,078,391 shares of the company’s stock, valued at approximately $10,837,829.55. The trade was a 2.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,579 shares of company stock worth $254,922 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Vir Biotechnology by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company’s stock valued at $41,000 after acquiring an additional 1,390 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Vir Biotechnology in the 2nd quarter worth about $35,000. UMB Bank n.a. raised its position in shares of Vir Biotechnology by 1,418.7% in the 4th quarter. UMB Bank n.a. now owns 7,062 shares of the company’s stock worth $43,000 after acquiring an additional 6,597 shares in the last quarter. CWM LLC boosted its holdings in shares of Vir Biotechnology by 23.0% during the 4th quarter. CWM LLC now owns 8,804 shares of the company’s stock worth $53,000 after buying an additional 1,646 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in Vir Biotechnology during the fourth quarter worth $60,000. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.