Vicki Sato, a director at Vir Biotechnology, Inc. (NASDAQ: VIR), sold 22,000 shares of the company’s stock on January 2, 2024. The shares were sold at an average price of $5.93, resulting in a total transaction value of $130,460. Following this sale, Sato’s ownership in the company decreased by 1.85%, leaving her with 1,166,391 shares, valued at approximately $6,916,698.63. The transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC), which is publicly accessible.
Market Performance and Recent Developments
On the day of the transaction, shares of Vir Biotechnology opened at $6.16. The firm currently has a market capitalization of $856.98 million, with a price-to-earnings (P/E) ratio of -1.71 and a beta of 1.39. Over the last 50 days, the stock has maintained a moving average of $5.98, while its 200-day moving average stands at $5.54. The company has experienced significant volatility over the past year, with a low of $4.16 and a high of $14.45.
Vir Biotechnology last reported its earnings on November 5, 2023, revealing an earnings per share (EPS) of ($1.17) for the quarter. This was below analysts’ expectations of ($0.70), missing forecasts by $0.47. The company recorded revenues of $0.24 million, significantly lower than the consensus estimate of $1.98 million. Compared to the same quarter the previous year, revenue increased by only 0.8%, while the previous year’s EPS was ($1.56).
Institutional Investor Activity
Recent trading activity indicates that several institutional investors have altered their positions in Vir Biotechnology. ARCH Venture Management LLC acquired a new stake valued at approximately $65.1 million in the second quarter. Meanwhile, Orbimed Advisors LLC increased its holdings by 5.9%, now owning 2,380,715 shares worth $11.99 million after purchasing an additional 132,466 shares.
Additionally, Aberdeen Group plc raised its stake by 51.6%, taking ownership of 1,526,265 shares valued at $8.72 million. Millennium Management LLC significantly lifted its holdings by 129.2%, acquiring an additional 787,212 shares, resulting in a total of 1,396,504 shares valued at $7.97 million. Finally, Hudson Bay Capital Management LP increased its position by 31.0%, bringing its total to 911,882 shares worth $5.21 million.
Overall, institutional investors now hold approximately 65.32% of Vir Biotechnology’s stock, reflecting a strong interest in the company despite its recent financial challenges.
As a clinical-stage immunology company, Vir Biotechnology is focused on developing therapies to combat serious infectious diseases. Utilizing proprietary technology platforms, the company aims to advance antiviral and antibacterial candidates through a scientific approach that leverages the human immune system. Its pipeline includes initiatives targeting diseases such as influenza A, COVID-19, HIV, hepatitis B, and tuberculosis, highlighting its commitment to addressing critical health challenges.
