Vir Biotechnology (NASDAQ:VIR) Trading Down 7.9%

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price was down 7.9% during mid-day trading on Monday . The company traded as low as $8.42 and last traded at $8.48. Approximately 322,717 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,079,359 shares. The stock had previously closed at $9.21.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VIR. Barclays increased their target price on shares of Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC boosted their price objective on Vir Biotechnology from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. raised their target price on Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Morgan Stanley upped their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vir Biotechnology has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Vir Biotechnology Stock Down 6.1 %

The company has a market capitalization of $1.18 billion, a P/E ratio of -2.30 and a beta of 0.48. The company’s 50-day simple moving average is $9.83 and its 200 day simple moving average is $9.80.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13). The company had revenue of $3.08 million for the quarter, compared to analyst estimates of $7.53 million. Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.11%. The business’s revenue was down 19.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.45) EPS. As a group, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.57 earnings per share for the current year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Saira Ramasastry sold 4,000 shares of Vir Biotechnology stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total transaction of $43,800.00. Following the sale, the director now owns 14,619 shares in the company, valued at $160,078.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Vir Biotechnology by 0.6% during the first quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock worth $125,362,000 after buying an additional 78,216 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Vir Biotechnology by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after acquiring an additional 6,359 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Vir Biotechnology by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after purchasing an additional 31,405 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Vir Biotechnology by 8.2% during the 1st quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock worth $4,640,000 after buying an additional 34,640 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Vir Biotechnology by 5.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 310,091 shares of the company’s stock worth $3,141,000 after purchasing an additional 16,615 shares during the period. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.