Short Interest in Vir Biotechnology, Inc. (NASDAQ:VIR) Increases By 20.0%

Vir Biotechnology, Inc. (NASDAQ:VIR) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 7,860,000 shares, a growth of 20.0% from the December 31st total of 6,550,000 shares. Approximately 9.0% of the company’s shares are short sold. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is currently 3.7 days.

Vir Biotechnology Stock Performance

Vir Biotechnology stock opened at $10.40 on Monday. The business has a 50 day simple moving average of $8.81 and a 200-day simple moving average of $8.50. Vir Biotechnology has a 12 month low of $6.56 and a 12 month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. During the same period in the previous year, the company posted ($1.22) earnings per share. Vir Biotechnology’s revenue was down 9.8% on a year-over-year basis. As a group, research analysts anticipate that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VIR. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Friday. Leerink Partners boosted their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Barclays cut their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Insider Transactions at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the sale, the director now owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 13,383 shares of company stock worth $160,070. Insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted 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 acquiring an additional 2,351 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Vir Biotechnology during the 3rd quarter worth about $56,000. KBC Group NV lifted its position in Vir Biotechnology by 136.5% in the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after purchasing an additional 5,177 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Vir Biotechnology in the 4th quarter worth approximately $74,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Vir Biotechnology during the 3rd quarter valued at $118,000. Hedge funds and other institutional investors 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).