Vir Biotechnology (NASDAQ:VIR) Stock Price Down 4.8% – Should You Sell?

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

Analysts Set New Price Targets

Several research analysts have weighed in on VIR shares. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Barclays decreased their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted 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. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, January 31st. Finally, Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Vir Biotechnology Price Performance

The business’s fifty day moving average price is $9.05 and its 200 day moving average price is $8.47. The stock has a market cap of $1.25 billion, a P/E ratio of -2.32 and a beta of 0.64.

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the sale, the director now directly owns 1,312,391 shares in the company, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in VIR. Charles Schwab Investment Management Inc. boosted its position in Vir Biotechnology by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after acquiring an additional 136,087 shares during the last quarter. State Street Corp boosted its position in shares of Vir Biotechnology by 10.4% during the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after purchasing an additional 530,645 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Vir Biotechnology during the third quarter worth approximately $191,000. Blue Trust Inc. increased its holdings in Vir Biotechnology by 143.5% in the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Vir Biotechnology by 77.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 31,900 shares of the company’s stock valued at $239,000 after acquiring an additional 13,893 shares in the last quarter. Institutional investors and hedge funds 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).