Vir Biotechnology (NASDAQ:VIR) Shares Up 5.7% – Here’s What Happened

Vir Biotechnology, Inc. (NASDAQ:VIR) traded up 5.7% during trading on Tuesday . The company traded as high as $10.06 and last traded at $10.12. 520,689 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,713,973 shares. The stock had previously closed at $9.57.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James Financial raised Vir Biotechnology from an “outperform” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Friday, April 10th. Barclays increased their price objective on shares of Vir Biotechnology from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Evercore reiterated an “outperform” rating and set a $18.00 target price on shares of Vir Biotechnology in a research report on Tuesday, February 24th. Finally, Wall Street Zen lowered shares of Vir Biotechnology from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.88.

Vir Biotechnology Stock Performance

The firm has a market cap of $1.70 billion, a P/E ratio of -3.21 and a beta of 1.65. The company has a 50-day moving average of $9.44 and a 200 day moving average of $8.27.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $55.49 million. During the same quarter last year, the company earned ($0.88) earnings per share. Sell-side analysts anticipate that Vir Biotechnology, Inc. will post -1.81 EPS for the current fiscal year.

Insider Activity

In other news, Director Janet Napolitano sold 3,200 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $9.45, for a total value of $30,240.00. Following 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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $10.05, for a total transaction of $221,100.00. Following the sale, the director owned 1,078,391 shares of the company’s stock, valued at $10,837,829.55. This trade represents 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. In the last quarter, insiders have sold 120,138 shares of company stock worth $1,119,102. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Vir Biotechnology

Hedge funds have recently modified their holdings of the company. Avidity Partners Management LP bought a new position in shares of Vir Biotechnology in the first quarter valued at approximately $8,512,000. Bank of America Corp DE grew its position in Vir Biotechnology by 3.7% during the 1st quarter. Bank of America Corp DE now owns 965,814 shares of the company’s stock worth $8,654,000 after acquiring an additional 34,906 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Vir Biotechnology by 47.9% during the 1st quarter. Janus Henderson Group PLC now owns 54,789 shares of the company’s stock valued at $491,000 after purchasing an additional 17,732 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in Vir Biotechnology during the 1st quarter valued at $24,593,000. Finally, Amundi raised its position in Vir Biotechnology by 52.8% in the 1st quarter. Amundi now owns 15,315 shares of the company’s stock valued at $137,000 after purchasing an additional 5,294 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

About Vir Biotechnology

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.