Vir Biotechnology, Inc. (NASDAQ:VIR) experienced notable activity on January 2, 2024, when Director Vicki Sato sold 22,000 shares of the company’s stock. The shares were sold at an average price of $5.93, amounting to a total transaction value of $130,460. Following this sale, Sato retains a significant interest in the company, holding 1,166,391 shares, valued at approximately $6,916,698.63. This sale represents a 1.85% decrease in her overall position.
This transaction was disclosed through a filing with the U.S. Securities and Exchange Commission (SEC), which can be reviewed on the SEC’s official website.
Stock Performance and Market Overview
On Thursday, January 4, 2024, shares of Vir Biotechnology opened at $6.16. The company currently has a market capitalization of $856.98 million, a price-to-earnings (P/E) ratio of -1.71, and a beta of 1.39. Vir Biotechnology has a 50-day moving average of $5.98 and a 200-day moving average of $5.54. Over the past year, the stock has fluctuated between a low of $4.16 and a high of $14.45.
The company recently reported its earnings results for the quarter ending on November 5, 2023. Vir Biotechnology recorded earnings per share (EPS) of ($1.17), falling short of analysts’ consensus estimates of ($0.70) by ($0.47). The firm reported a revenue of $0.24 million, significantly below the anticipated $1.98 million. In the same quarter the previous year, the company had an EPS of ($1.56). Notably, the revenue reflected a minor increase of 0.8% compared to the same quarter in 2022.
Institutional Trading Activity
Recent trading activity indicates increased interest from institutional investors in Vir Biotechnology. Notably, ARCH Venture Management LLC acquired a new stake valued at approximately $65.1 million during the second quarter. Additionally, Orbimed Advisors LLC raised its position by 5.9%, now holding 2,380,715 shares worth $11.99 million after acquiring an additional 132,466 shares.
Other significant increases in holdings include Aberdeen Group plc, which raised its stake by 51.6% in the third quarter, owning 1,526,265 shares now valued at $8.72 million. Millennium Management LLC lifted its holdings by an impressive 129.2%, acquiring an additional 787,212 shares to bring its total to 1,396,504 shares valued at $7.97 million. Lastly, Hudson Bay Capital Management LP increased its stake by 31.0%, now owning 911,882 shares worth $5.21 million.
Hedge funds and other institutional investors collectively hold approximately 65.32% of Vir Biotechnology’s stock, reflecting substantial institutional confidence in the company’s potential.
Vir Biotechnology, Inc. focuses on developing therapies aimed at preventing and treating serious infectious diseases. The company utilizes a range of proprietary technology platforms, including antibody isolation and bioinformatics, to advance antiviral and antibacterial candidates. Its current pipeline includes products targeting various diseases such as influenza A, COVID-19, HIV, hepatitis B, and tuberculosis.
