Vir Biotechnology, Inc. (NASDAQ:VIR – Get Free Report)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.56, but opened at $11.14. Vir Biotechnology shares last traded at $10.86, with a volume of 173,392 shares changing hands.
Wall Street Analyst Weigh In
VIR has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Vir Biotechnology in a report on Friday, August 4th. Barclays lowered their target price on Vir Biotechnology from $59.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, July 21st. HC Wainwright lowered their target price on Vir Biotechnology from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, August 7th. The Goldman Sachs Group lowered their target price on Vir Biotechnology from $51.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Finally, Morgan Stanley reduced their price objective on Vir Biotechnology from $27.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, July 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.
Check Out Our Latest Analysis on Vir Biotechnology
Vir Biotechnology Price Performance
Vir Biotechnology (NASDAQ:VIR – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($1.45) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.24). Vir Biotechnology had a negative return on equity of 13.08% and a negative net margin of 53.38%. The business had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $22.39 million. During the same quarter last year, the company posted ($0.58) earnings per share. The business’s quarterly revenue was up 379999900.0% compared to the same quarter last year. On average, research analysts forecast that Vir Biotechnology, Inc. will post -4.66 EPS for the current fiscal year.
Insider Buying and Selling
In other Vir Biotechnology news, major shareholder Endurance (Cayman) Ltd Svf sold 106,854 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $27.09, for a total transaction of $2,894,674.86. Following the completion of the sale, the insider now directly owns 17,032,169 shares in the company, valued at $461,401,458.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vir Biotechnology news, Director Vicki L. Sato sold 18,000 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $24.66, for a total transaction of $443,880.00. Following the completion of the sale, the director now directly owns 1,315,351 shares in the company, valued at $32,436,555.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 106,854 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $27.09, for a total value of $2,894,674.86. Following the sale, the insider now owns 17,032,169 shares of the company’s stock, valued at $461,401,458.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,648 shares of company stock worth $5,207,870. 18.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Vir Biotechnology
A number of large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its stake in shares of Vir Biotechnology by 33.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock valued at $42,000 after buying an additional 456 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Vir Biotechnology by 14.1% in the third quarter. Royal Bank of Canada now owns 4,125 shares of the company’s stock valued at $79,000 after buying an additional 510 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Vir Biotechnology by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 85,298 shares of the company’s stock valued at $1,644,000 after buying an additional 523 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Vir Biotechnology by 1.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 30,594 shares of the company’s stock valued at $774,000 after buying an additional 564 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Vir Biotechnology by 3.1% in the first quarter. Arizona State Retirement System now owns 21,214 shares of the company’s stock valued at $494,000 after buying an additional 629 shares in the last quarter. Institutional investors and hedge funds own 67.05% of the company’s stock.
About Vir Biotechnology
Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus.
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