Vir Biotechnology (NASDAQ:VIR) Shares Gap Down After Insider Selling

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report)'s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $6.07, but opened at $5.80. Vir Biotechnology shares last traded at $5.7750, with a volume of 451,026 shares trading hands.

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Specifically, major shareholder Endurance (Cayman) Ltd Svf sold 61,493 shares of the business's stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $6.44, for a total transaction of $396,014.92. Following the completion of the transaction, the insider owned 13,920,778 shares of the company's stock, valued at approximately $89,649,810.32. The trade was a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 127,938 shares of the firm's stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $6.39, for a total value of $817,523.82. Following the completion of the sale, the insider directly owned 13,982,271 shares in the company, valued at $89,346,711.69. This trade represents a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, major shareholder Endurance (Cayman) Ltd Svf sold 235,971 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $6.38, for a total transaction of $1,505,494.98. Following the completion of the transaction, the insider directly owned 14,110,209 shares in the company, valued at $90,023,133.42. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VIR shares. Evercore ISI initiated coverage on shares of Vir Biotechnology in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $12.00 target price on the stock. HC Wainwright restated a "buy" rating and issued a $15.00 price target on shares of Vir Biotechnology in a research report on Monday, September 15th. Bank of America upgraded shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and increased their target price for the company from $12.00 to $14.00 in a research note on Wednesday, August 27th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Vir Biotechnology in a research report on Monday, November 24th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.30.

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Read Our Latest Stock Report on VIR

Vir Biotechnology Stock Performance

The firm has a market capitalization of $817.05 million, a price-to-earnings ratio of -1.62 and a beta of 1.34. The firm's 50-day moving average price is $5.77 and its two-hundred day moving average price is $5.32.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.17) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.47). The business had revenue of $0.24 million for the quarter, compared to the consensus estimate of $1.98 million. Vir Biotechnology had a negative return on equity of 50.76% and a negative net margin of 2,963.54%.The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.56) EPS. As a group, equities research analysts anticipate that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Institutional Trading of Vir Biotechnology

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in Vir Biotechnology during the second quarter worth $35,000. Federated Hermes Inc. grew its holdings in shares of Vir Biotechnology by 153.8% in the 3rd quarter. Federated Hermes Inc. now owns 8,085 shares of the company's stock worth $46,000 after purchasing an additional 4,899 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Vir Biotechnology during the 2nd quarter worth about $50,000. Daiwa Securities Group Inc. increased its position in shares of Vir Biotechnology by 2,200.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company's stock worth $62,000 after purchasing an additional 11,773 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Vir Biotechnology during the 2nd quarter valued at about $63,000. 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).

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