Vir Biotechnology (NASDAQ:VIR) Hits New 52-Week Low at $7.65

Vir Biotechnology, Inc. (NASDAQ:VIR) hit a new 52-week low during trading on Thursday . The stock traded as low as $7.65 and last traded at $7.69, with a volume of 160977 shares. The stock had previously closed at $8.04.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, March 15th. JPMorgan Chase & Co. boosted their price target on Vir Biotechnology from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average target price of $34.38.

Vir Biotechnology Stock Down 4.5 %

The firm has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $9.60.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.28. The business had revenue of $16.80 million for the quarter, compared to analyst estimates of $11.18 million. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. The company’s quarterly revenue was down 66.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) earnings per share. On average, equities analysts expect that Vir Biotechnology, Inc. will post -4.04 EPS for the current year.

Insider Activity at Vir Biotechnology

In related news, EVP Ann M. Hanly sold 12,296 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $10.05, for a total transaction of $123,574.80. Following the completion of the sale, the executive vice president now directly owns 134,780 shares of the company’s stock, valued at $1,354,539. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the completion of the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann M. Hanly sold 12,296 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $10.05, for a total value of $123,574.80. Following the transaction, the executive vice president now directly owns 134,780 shares of the company’s stock, valued at $1,354,539. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,831 shares of company stock valued at $1,525,844. 18.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

Large investors have recently made changes to their positions in the stock. Ballentine Partners LLC boosted its stake in Vir Biotechnology by 9.2% during the first quarter. Ballentine Partners LLC now owns 13,704 shares of the company’s stock valued at $139,000 after buying an additional 1,160 shares during the period. Arizona State Retirement System boosted its stake in Vir Biotechnology by 6.0% during the fourth quarter. Arizona State Retirement System now owns 26,271 shares of the company’s stock valued at $264,000 after buying an additional 1,476 shares during the period. Fifth Third Bancorp boosted its stake in Vir Biotechnology by 69.3% during the third quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock valued at $37,000 after buying an additional 1,613 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Vir Biotechnology by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock valued at $32,000 after buying an additional 1,692 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Vir Biotechnology by 7.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,468 shares of the company’s stock valued at $239,000 after buying an additional 1,700 shares during the period. 65.32% of the stock is owned by institutional investors.

About Vir Biotechnology

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.