Vir Biotechnology (NASDAQ:VIR) Stock Price Down 4.8% – Here’s What Happened

Vir Biotechnology, Inc. (NASDAQ:VIR) dropped 4.8% during trading on Monday . The stock traded as low as $9.48 and last traded at $9.37. Approximately 330,679 shares changed hands during trading, a decline of 89% from the average daily volume of 3,135,493 shares. The stock had previously closed at $9.84.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Leerink Partners increased their price objective on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Vir Biotechnology Price Performance

The firm’s fifty day moving average is $9.05 and its two-hundred day moving average is $8.47. The firm has a market capitalization of $1.25 billion, a PE ratio of -2.32 and a beta of 0.64.

Insider Activity

In related news, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the transaction, the director now owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VIR. Blue Trust Inc. grew its stake in Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after buying an additional 2,351 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Vir Biotechnology during the 3rd quarter valued at $56,000. SBI Securities Co. Ltd. purchased a new position in Vir Biotechnology in the fourth quarter worth $60,000. PNC Financial Services Group Inc. increased its stake in Vir Biotechnology by 31.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock valued at $61,000 after acquiring an additional 1,999 shares during the last quarter. Finally, KBC Group NV raised its position in Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock valued at $66,000 after purchasing an additional 5,177 shares in the last quarter. Institutional investors own 65.32% of the company’s stock.

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).