Vir Biotechnology (NASDAQ:VIR) Sets New 52-Week Low at $7.13

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) hit a new 52-week low during trading on Tuesday . The stock traded as low as $7.13 and last traded at $7.18, with a volume of 157278 shares traded. The stock had previously closed at $7.49.

Analyst Ratings Changes

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

Vir Biotechnology Stock Down 1.7 %

The firm’s 50 day moving average is $8.50 and its two-hundred day moving average is $9.22. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -1.81 and a beta of 0.46.

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

Insiders Place Their Bets

In related news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the sale, the director now directly owns 11,616 shares in the company, valued at approximately $90,604.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.60% of the stock is owned by corporate insiders.

Institutional Trading of Vir Biotechnology

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Vir Biotechnology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock valued at $125,362,000 after buying an additional 78,216 shares during the period. Millennium Management LLC raised its holdings in Vir Biotechnology by 94.6% during the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after purchasing an additional 606,804 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Vir Biotechnology by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock worth $7,238,000 after purchasing an additional 6,359 shares during the period. Dimensional Fund Advisors LP lifted its position in Vir Biotechnology by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock worth $5,673,000 after purchasing an additional 58,360 shares during the period. Finally, Empowered Funds LLC boosted its stake in Vir Biotechnology by 8.2% during the 1st quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock valued at $4,640,000 after purchasing an additional 34,640 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).