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Brent Sabatini, the Senior Vice President and Chief Accounting Officer at Vir Biotechnology, Inc. (NASDAQ:VIR), recently sold 1,562 shares of the company's common stock. According to InvestingPro data, Vir's stock has shown resilience with a 31.5% year-to-date return, despite the company's challenging financial position with an EBITDA of -$534M in the last twelve months. The sale, executed on February 13, 2025, was priced at approximately $9.15 per share, totaling $14,291. Following this transaction, Sabatini holds 28,189 shares. With the company's upcoming earnings report due on February 20, InvestingPro subscribers can access 7 additional key insights about VIR's financial health and valuation status. The sale was conducted to cover tax obligations related to the vesting of restricted stock units, as indicated in the filing. Based on InvestingPro's Fair Value analysis, VIR currently appears to be trading below its intrinsic value.
In other recent news, Vir Biotechnology has announced key changes within its executive team. The company is set to welcome Maninder Hora, Ph.D., as the new Executive Vice President and Chief Technical Operations Officer, taking over from Ann (Aine) M. Hanly, Ph.D. This transition is part of Vir Biotechnology's ongoing efforts to advance its operations in the development of biological products.
In the financial sector, Morgan Stanley (NYSE:MS) has upgraded Vir Biotechnology's stock from Equalweight to Overweight, doubling the price target to $20.00. This adjustment is based on the encouraging preliminary results from Vir's T-cell engager (TCE) pipeline, specifically the VIR-5500 program that targets prostate cancer. Goldman Sachs also maintained its Buy rating on Vir Biotechnology with a steady price target of $28.00, highlighting the early signs of differentiation from competitors and potential for the company's strategic shift into oncology.
Furthermore, JPMorgan has raised Vir Biotechnology's stock target to $14 from $10, following the presentation of initial clinical data for its in-house developed masked Tumor Cell Engagers (TCEs), namely anti-HER2 VIR-5818 and anti-PSMA VIR-5500. These candidates have shown promising activity in solid tumor subsets, leading to the increased price target. These recent developments reflect the financial sector's confidence in Vir Biotechnology's future performance and potential growth.
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