Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Vir Biotechnology Inc shares valued at $690,365 were sold by De Backer Marianne on Apr 03 ’24. At $9.46 per share, De Backer Marianne sold 72,995 shares. The insider’s holdings dropped to 678,457 shares worth approximately $6.27 million following the completion of this transaction.
Also, HANLY ANN M. sold 2,711 shares, netting a total of over 27,251 in proceeds. Following the sale of shares at $10.05 each, the insider now holds 132,069 shares.
Before that, Lee Sung had sold 6,008 shares from its account. In a trade valued at $59,404, the EVP & Chief Financial Officer traded Vir Biotechnology Inc shares for $9.89 each. Upon closing the transaction, the insider’s holdings decreased to 6,008 shares, worth approximately $0.93 million.
As published in a research note from JP Morgan on January 29, 2024, Vir Biotechnology Inc [VIR] has been rated down from an Overweight to a Neutral and the price target has been revised to $9 from $23. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early September. As of March 06, 2023, JP Morgan has increased its “Neutral” rating to a “an Overweight” for VIR. Earlier on February 21, 2023, Goldman upgraded its rating. Their new recommendation was “a Buy” for VIR stock which previously was a “a Neutral”.
Analyzing VIR Stock Performance
During the last five days, there has been a drop of approximately -2.43%. Over the course of the year, Vir Biotechnology Inc shares have dropped approximately -8.15%. Shares of the company reached a 52-week high of $12.00 on 02/27/24 and a 52-week low of $8.41 on 02/05/24. A 50-day SMA is recorded $10.15, while a 200-day SMA reached $11.40. Nevertheless, trading volume fell to 0.72 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for Vir Biotechnology Inc (VIR)
According to the 24-hour chart, there is a support level at 9.04, which, if violated, would cause prices to drop to 8.83. In the upper region, resistance lies at 9.42. The next price resistance is at 9.59. RSI (Relative Strength Index) is 36.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 82.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Vir Biotechnology Inc subject to short interest?
Stocks of Vir Biotechnology Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.38 million shares to 5.43 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.05 million shares. A jump of 7.0% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.42.
