Insider Selling: Vir Biotechnology, Inc. (NASDAQ:VIR) CFO Sells 6,008 Shares of Stock

Vir Biotechnology, Inc. (NASDAQ:VIR) CFO Sung Lee sold 6,008 shares of Vir Biotechnology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $9.89, for a total value of $59,419.12. Following the completion of the transaction, the chief financial officer now owns 100,492 shares of the company’s stock, valued at approximately $993,865.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Vir Biotechnology Stock Performance

VIR stock traded up $0.08 during midday trading on Thursday, reaching $10.18. The stock had a trading volume of 382,652 shares, compared to its average volume of 1,094,218. Vir Biotechnology, Inc. has a 52-week low of $7.72 and a 52-week high of $27.48. The stock has a market cap of $1.37 billion, a PE ratio of -2.20 and a beta of 0.42. The firm has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $9.67.

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

Analyst Ratings Changes

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

Institutional Trading of Vir Biotechnology

Several large investors have recently modified their holdings of VIR. Acadian Asset Management LLC acquired a new position in shares of Vir Biotechnology during the first quarter valued at approximately $197,000. MetLife Investment Management LLC boosted its position in Vir Biotechnology by 53.3% in the first quarter. MetLife Investment Management LLC now owns 33,176 shares of the company’s stock valued at $853,000 after buying an additional 11,534 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Vir Biotechnology by 1.4% in the first quarter. Rhumbline Advisers now owns 64,769 shares of the company’s stock worth $1,666,000 after acquiring an additional 915 shares during the last quarter. BlackRock Inc. grew its holdings in Vir Biotechnology by 1.7% during the first quarter. BlackRock Inc. now owns 5,396,184 shares of the company’s stock valued at $138,790,000 after purchasing an additional 88,135 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Vir Biotechnology by 91.0% during the first quarter. Dimensional Fund Advisors LP now owns 612,336 shares of the company’s stock worth $15,749,000 after purchasing an additional 291,785 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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.