Vir Biotechnology (NASDAQ:VIR) Reaches New 1-Year Low at $7.41

Vir Biotechnology, Inc. (NASDAQ:VIR) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $7.41 and last traded at $7.42, with a volume of 200626 shares. The stock had previously closed at $7.54.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Tuesday, August 20th. Barclays lifted their target price on shares of Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley upped their target price on Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, June 6th. Finally, Needham & Company LLC lifted their price target on Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Vir Biotechnology Stock Up 3.2 %

The firm has a 50 day moving average of $8.60 and a 200 day moving average of $9.29. The firm has a market cap of $1.03 billion, a PE ratio of -1.89 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.13). Vir Biotechnology had a negative return on equity of 30.93% and a negative net margin of 612.40%. The firm had revenue of $3.08 million for the quarter, compared to the consensus estimate of $7.53 million. During the same quarter in the previous year, the company posted ($1.45) EPS. The firm’s revenue was down 19.0% compared to the same quarter last year. On average, research analysts anticipate that Vir Biotechnology, Inc. will post -3.26 EPS for the current year.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, Director Janet Napolitano sold 12,190 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the sale, the director now owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Vir Biotechnology by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock worth $123,709,000 after acquiring an additional 1,096,473 shares during the period. ProShare Advisors LLC grew its position in shares of Vir Biotechnology by 8.4% during the 1st quarter. ProShare Advisors LLC now owns 26,392 shares of the company’s stock valued at $267,000 after purchasing an additional 2,035 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Vir Biotechnology in the second quarter worth $1,780,000. Charles Schwab Investment Management Inc. raised its position in shares of Vir Biotechnology by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock worth $7,576,000 after buying an additional 31,405 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Vir Biotechnology by 8.2% during the first quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock valued at $4,640,000 after buying an additional 34,640 shares during the period. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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.