Vir Biotechnology (NASDAQ:VIR) Shares Gap Down – Here’s What Happened

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $11.57, but opened at $11.11. Vir Biotechnology shares last traded at $11.8550, with a volume of 42,372 shares traded.

Wall Street Analysts Forecast Growth

VIR has been the topic of a number of research analyst reports. Zacks Research lowered shares of Vir Biotechnology from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Vir Biotechnology in a research note on Monday, September 28th. Finally, HC Wainwright lifted their price target on Vir Biotechnology from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average target price of $21.86.

Vir Biotechnology Stock Performance

The stock’s fifty day simple moving average is $10.90 and its two-hundred day simple moving average is $9.46. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -6.32 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $238.95 million during the quarter, compared to analyst estimates of $135.88 million. During the same period in the prior year, the firm earned ($0.80) EPS. The business’s revenue for the quarter was up 19582.5% on a year-over-year basis. On average, equities analysts anticipate that Vir Biotechnology, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fiduciary Financial Advisors purchased a new position in shares of Vir Biotechnology during the second quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Vir Biotechnology in the 3rd quarter worth about $97,000. Caxton Associates LLP purchased a new stake in Vir Biotechnology in the 1st quarter worth about $112,000. Amundi lifted its stake in Vir Biotechnology by 52.8% in the 1st quarter. Amundi now owns 15,315 shares of the company’s stock worth $137,000 after acquiring an additional 5,294 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Vir Biotechnology by 223.1% during the 1st quarter. Royal Bank of Canada now owns 15,355 shares of the company’s stock worth $138,000 after acquiring an additional 10,603 shares during the period. Institutional investors and hedge funds own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir’s research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.