Vir Biotechnology (NASDAQ:VIR) Reaches New 1-Year 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 research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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. Morgan Stanley raised their target price on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Finally, Needham & Company LLC increased their price objective on Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Vir Biotechnology Stock Performance

The stock has a 50-day moving average of $8.39 and a 200 day moving average of $9.18. The firm has a market capitalization of $1.05 billion, a P/E ratio of -1.92 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.13). The company had revenue of $3.08 million for the quarter, compared to the consensus estimate 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 was down 19.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.45) EPS. On average, equities analysts predict that Vir Biotechnology, Inc. will post -3.26 EPS for the current year.

Insider Activity at Vir Biotechnology

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

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds have recently modified their holdings of VIR. Point72 Asia Singapore Pte. Ltd. increased its stake in Vir Biotechnology by 491.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,959 shares of the company’s stock valued at $169,000 after buying an additional 15,755 shares during the last quarter. Algert Global LLC purchased a new position in Vir Biotechnology during the second quarter valued at approximately $1,485,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Vir Biotechnology in the second quarter worth $135,000. The Manufacturers Life Insurance Company grew its stake in Vir Biotechnology by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,987 shares of the company’s stock worth $436,000 after buying an additional 3,605 shares in the last quarter. Finally, Millennium Management LLC grew its position in Vir Biotechnology by 94.6% in the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after acquiring an additional 606,804 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

About Vir Biotechnology

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).