Stock market today: S&P 500 hits fresh record close on stronger economic growth
Marianne De Backer, Chief Executive Officer of Vir Biotechnology, Inc. (NASDAQ:VIR), recently sold 79,712 shares of the company’s common stock. The shares were sold at an average price of $5.9494 per share, totaling approximately $474,238. Following this transaction, De Backer holds 769,505 shares directly. Additionally, there are 53,118 shares held indirectly under the Ureel-De Backer Family Trust, where De Backer and her spouse serve as trustees. The sale was executed to cover tax withholding obligations related to the vesting of restricted stock units. While the company maintains strong liquidity with a current ratio of 8.71 and holds more cash than debt, InvestingPro subscribers can access 10+ additional exclusive insights about VIR’s financial health and market position.
In other recent news, Vir Biotechnology reported its fourth-quarter 2024 earnings, surpassing market expectations with a narrower-than-anticipated loss and significantly higher revenue. The company posted an earnings per share (EPS) of -$0.76, better than the forecasted -$0.87, and revenue of $12.37 million, exceeding the expected $8.14 million. This strong performance reflects Vir Biotechnology’s effective cost management, including a significant reduction in research and development (R&D) and general and administrative (G&A) expenses. The company also announced the enrollment of the first patient in its Phase 3 ECLIPSE-1 trial, aimed at assessing the efficacy and safety of a new chronic hepatitis delta therapy, marking a key advancement in its clinical program.
Morgan Stanley (NYSE:MS) reaffirmed its Overweight rating and $20 price target for Vir Biotechnology, highlighting the progress in the Phase 3 ECLIPSE trials as a positive development. These trials are expected to support future marketing applications in the U.S. and Europe. The initiation of these trials follows positive outcomes from the Phase 2 SOLSTICE study, which demonstrated a strong safety and efficacy profile. Analysts at Morgan Stanley are encouraged by the progress in the chronic hepatitis delta program and consider the T-cell engager platform a significant factor in Vir Biotechnology’s future. They anticipate further data by the end of 2025 as the next key catalyst for the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.