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George A. Scangos, a director at Vir Biotechnology, Inc. (NASDAQ:VIR), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Scangos sold 10,964 shares of Vir Biotechnology at an average price of $9.8117 per share. This transaction, dated February 18, 2025, resulted in a total value of approximately $107,575. The sale comes as VIR trades at $9.85, within its 52-week range of $6.56 to $14.45, and has posted a strong 34.2% gain year-to-date. InvestingPro analysis indicates the stock is currently undervalued, with analysts setting targets ranging from $14 to $110 per share.
Following the sale, Scangos retains direct ownership of 708,295 shares in the company. Additionally, he holds significant indirect ownership through various family trusts and other entities, as detailed in the filing’s footnotes. These include shares held in the George A Scangos 2023 Annuity Trust, the Leslie Wilson 2023 Annuity Trust, and the Scangos 2018 Grandchildren’s Trust, among others. The company maintains a strong balance sheet with more cash than debt and is scheduled to report earnings on February 20. For deeper insights into insider trading patterns and comprehensive financial analysis, check out the VIR research report on InvestingPro.
In other recent news, Vir Biotechnology has been in the spotlight with several key developments. The company announced a leadership change, with Maninder Hora, Ph.D., set to take over as Executive Vice President and Chief Technical Operations Officer following the departure of Ann (Aine) M. Hanly, Ph.D. This transition was disclosed in a recent SEC filing. Additionally, Vir Biotechnology’s promising trial data for its dual-masked T-cell engagers, VIR-5818 and VIR-5500, has garnered attention. The Phase 1 data revealed encouraging safety and efficacy profiles, with notable tumor shrinkage and prostate-specific antigen declines in treated patients.
In terms of analyst activity, Morgan Stanley (NYSE:MS) upgraded Vir Biotechnology’s stock rating from Equalweight to Overweight and doubled the price target from $10 to $20, citing the potential of the VIR-5500 program for prostate cancer. Goldman Sachs maintained its Buy rating with a price target of $28, noting the promising differentiation of Vir’s T-cell engager programs. Meanwhile, JPMorgan raised its price target to $14, acknowledging the promising initial data from the company’s in-house developed TCEs. These recent developments highlight Vir Biotechnology’s strategic advancements and the positive reception from analysts regarding its ongoing projects.
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