Vir Biotechnology (NASDAQ:VIR) Shares Gap Down After Insider Selling

Vir Biotechnology, Inc. (NASDAQ:VIR) shares gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $10.00, but opened at $8.91. Vir Biotechnology shares last traded at $9.06, with a volume of 7,774,340 shares.

Specifically, CEO Backer Marianne De sold 14,762 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $9.53, for a total transaction of $140,681.86. Following the completion of the sale, the chief executive officer owned 1,020,704 shares in the company, valued at $9,727,309.12. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Verneuil Vanina De sold 13,700 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $9.82, for a total value of $134,534.00. Following the completion of the transaction, the executive vice president directly owned 112,982 shares in the company, valued at approximately $1,109,483.24. This trade represents a 10.81% decrease in their position. The SEC filing for this sale provides additional information. In related news, EVP Verneuil Vanina De sold 3,117 shares of Vir Biotechnology stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $9.53, for a total transaction of $29,705.01. Following the completion of the sale, the executive vice president directly owned 126,682 shares of the company’s stock, valued at $1,207,279.46. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several research firms have weighed in on VIR. Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday. Evercore reiterated an “outperform” rating and issued a $18.00 price target on shares of Vir Biotechnology in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Monday, December 22nd. Raymond James Financial raised shares of Vir Biotechnology from an “outperform” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Vir Biotechnology in a report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.89.

More Vir Biotechnology News

Here are the key news stories impacting Vir Biotechnology this week:

• Positive Sentiment: Astellas agreed to a collaboration on Vir’s prostate?cancer asset (VIR?5500) that includes up?front and potential milestone payments totaling up to ~$1.7B, materially de?risking that program and improving commercialization prospects. Read More.
• Positive Sentiment: Q4 results surprised to the upside: EPS and roughly $64M revenue beat consensus, signaling stronger commercial traction and likely underpinning recent analyst optimism. Read More.
• Positive Sentiment: Analysts have raised targets and ratings following the results and deal flow (Needham moved its target to $18), supporting upside from fundamentals despite volatility. Read More.
• Neutral Sentiment: Management will present at TD Cowen and Leerink in early March — useful for additional color and Q&A but not an immediate earnings/cash catalyst. Read More.
• Neutral Sentiment: Increased media/peer comparisons (head?to?head coverage) have raised visibility and trading volume; this can amplify moves but doesn’t change Vir’s underlying cashflow or pipeline. Read More.
• Negative Sentiment: Vir priced an underwritten offering of 17,647,058 shares at $8.50 (~$150M gross), which strengthens the balance sheet but is dilutive and increased near?term share supply — a clear short?term negative for the stock. Read More.
• Negative Sentiment: Market coverage singled out the discounted offering as the proximate cause of the post?rally pullback, triggering selling and higher volatility. Read More.
• Negative Sentiment: Multiple insider sales were disclosed last week (including CEO and other senior officers/directors), increasing visible supply and feeding negative sentiment alongside the offering. Individual filings and summaries are available in SEC/insider reports. Read More.

Vir Biotechnology Stock Performance

The firm’s fifty day simple moving average is $7.01 and its 200 day simple moving average is $6.07. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.88 and a beta of 1.69.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.11. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 49.31%. The company had revenue of $64.07 million during the quarter, compared to analysts’ expectations of $19.91 million. During the same quarter in the prior year, the company earned ($0.76) earnings per share. The business’s quarterly revenue was up 417.8% compared to the same quarter last year. Analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently added to or reduced their stakes in VIR. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vir Biotechnology by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company’s stock valued at $41,000 after buying an additional 1,390 shares during the last quarter. CWM LLC increased its holdings in Vir Biotechnology by 23.0% in the 4th quarter. CWM LLC now owns 8,804 shares of the company’s stock worth $53,000 after acquiring an additional 1,646 shares during the last quarter. ProShare Advisors LLC raised its stake in Vir Biotechnology by 7.8% in the 4th quarter. ProShare Advisors LLC now owns 23,525 shares of the company’s stock valued at $142,000 after acquiring an additional 1,705 shares during the period. Clarius Group LLC raised its stake in Vir Biotechnology by 0.3% in the 3rd quarter. Clarius Group LLC now owns 619,312 shares of the company’s stock valued at $3,536,000 after acquiring an additional 1,777 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Vir Biotechnology by 1.0% during the second quarter. Rhumbline Advisers now owns 228,949 shares of the company’s stock valued at $1,154,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors 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.