An Analysis of Vir Biotechnology Inc. (VIR)’s Potential Price Growth


Vir Biotechnology Inc.’s filing revealed that its President and CEO SCANGOS GEORGE A unloaded Company’s shares for reported $0.35 million on Feb 24. In the deal valued at $23.33 per share,15,119 shares were sold. As a result of this transaction, SCANGOS GEORGE A now holds 168,489 shares worth roughly $ 3.88 million.

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Then, SCANGOS GEORGE A sold 12,631 shares, generating $328,065 in total proceeds. Upon selling the shares at $25.97, the President and CEO now owns 183,608 shares.

Before that, Pang Phillip sold 2,878 shares. Vir Biotechnology Inc. shares valued at $74,750 were divested by the Chief Medical Officer at a price of $25.97 per share. As a result of the transaction, Pang Phillip now holds 198,320 shares, worth roughly $4.56 million.

Goldman upgraded its Vir Biotechnology Inc. [VIR] rating to a Buy from a a Neutral in a research note published On Friday, February 21, 2023; the price target was increased to $53 from $41. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late January from “an Underweight” to “an Equal-weight”. SVB Leerink began covering VIR with “an Outperform” recommendation on September 14, 2022. Morgan Stanley started covering the stock on September 09, 2022. It rated VIR as “an Underweight”.

Price Performance Review of VIR

On Friday, Vir Biotechnology Inc. [NASDAQ:VIR] saw its stock fall -10.91% to $23.00. Over the last five days, the stock has lost -10.07%. Vir Biotechnology Inc. shares have fallen nearly -9.15% since the year began. Nevertheless, the stocks have fallen -17.28% over the past one year. While a 52-week high of $31.78 was reached on 01/27/23, a 52-week low of $18.05 was recorded on 02/24/23. SMA at 50 days reached $26.90, while 200 days put it at $25.25. A total of 3.14 million shares were traded, compared to the trading of 1.26 million shares in the previous session.

Levels Of Support And Resistance For VIR Stock

The 24-hour chart illustrates a support level at 21.94, which if violated will result in even more drops to 20.88. On the upside, there is a resistance level at 24.14. A further resistance level may holdings at 25.28. The Relative Strength Index (RSI) on the 14-day chart is 31.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.14%. Stochastics %K at 20.59% indicates the stock is a holding.

How much short interest is there in Vir Biotechnology Inc.?

A steep rise in short interest was recorded in Vir Biotechnology Inc. stocks on Jan 12, 2023, dropping by 70000.0 shares to a total of 3.73 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 3.8 million shares. There was a decline of -1.88%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.48% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.63.

Vir Biotechnology Inc. [VIR] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 12,509,452 shares, or roughly 9.40% of the outstanding VIR shares. In other words, the investor’s shares have risen by 970,511 from its previous 13-F filing of 11538941.0. Additionally, The Vanguard Group, Inc. increased 1.66% of its stake after which the total value it holdings stand at $294,564,447, while Temasek Holdings Pte Ltd. reduced -5.41% of its stake to hold $168.75 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -353,960 shares of Vir Biotechnology Inc., while Baillie Gifford & Co. sold 5,944 shares. At present, AllianceBernstein LP is holding 2,353,859 shares valued at $69.56 million. Bill & Melinda Gates Foundation T owned 1,559,142 shares of the company at the time of its most recent 13F filing, worth $46.07 million.

According to FactSet, Vir Biotechnology Inc.’s share price will average $56.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 85.97 percent from its previous closing price of $25.81. Analysts expect Vir Biotechnology Inc. stock to reach the higher price of $125.00, while the lowest price estimate is $25.00. However, 7 analysts have rated VIR stock as a Buy in their predictions for 2023.


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