# Vir Biotechnology, Inc. (VIR)

> Source: Nexqual · https://nexqual.com/VIR · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Vir Biotechnology, Inc. (VIR), nexqual.com/VIR" · informational, not investment advice.

**Price:** USD 11.75 (-1.51% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 11.93 · day 11.55–12.19 · 52w 4.82–12.19 · market cap $1.99B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $303M, net income -$252M (-83.0% margin), free cash flow -$204M (SEC filings).
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $255K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.70 on a 1–5 scale) (10 analysts), mean target USD 21 (range 15–30).
- Total return with dividends: 1Y +101.2% vs S&P 500 +14.8%; 5Y -68.9% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD -0.73, revenue estimate $1.2M. All companies reporting that day: https://nexqual.com/earnings/2026-11-04
- Dividend: VIR paid no cash dividend in the last five years.
- Short interest: 9.72% of float (as of 2026-10-15), 7.2 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.10B | $1.62B | $86.2M | $74.2M | $68.6M | $303M |
| Gross profit | $1.03B | $1.47B | $83.4M | $73.4M | $68.5M | — |
| Operating income | $421M | $833M | -$684M | -$587M | -$479M | -$280M |
| Net income | $529M | $516M | -$615M | -$522M | -$438M | -$252M |
| EPS (diluted) | $3.96 | $3.83 | -$4.59 | -$3.83 | -$3.16 | — |
| Free cash flow | -$69.4M | $1.60B | -$800M | -$454M | -$397M | -$204M |
| Gross margin | 94.0% | 90.9% | 96.8% | 98.9% | 100.0% | — |
| Operating margin | 38.4% | 51.6% | -794.0% | -791.3% | -699.2% | -92.4% |
| Net margin | 48.3% | 31.9% | -713.7% | -703.4% | -638.9% | -83.0% |
| Revenue growth | +1334.4% | +47.5% | -94.7% | -13.9% | -7.6% | — |
| Cash + short-term investments | $910M | $2.40B | $1.63B | $901M | $461M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 6.6x · P/B 2.0x · FCF yield -10.24% · Earnings yield -12.66%

## Insider sales (SEC Form 4, open-market, last ~7 months)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-01 | Napolitano Janet | Director | 3,200 | $30K | 13.1% | Yes (adopted June 27, 2025) | Too little history (no open-market trades in 2023) |
| 2026-06-01 | Sabatini Brent | SVP, Chief Accounting Officer | 379 | $4K | 0.6% | Yes (adopted December 19, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-01 | Sato Vicki L | Director | 22,000 | $221K | 2% | Yes (adopted March 27, 2025) | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.70 on a 1–5 scale), 10 analysts; mean target USD 21 (low 15, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | HC Wainwright & Co. | Target raised | Buy | $20 → $22 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +101.2% | -68.9% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +102.0% | -20.8% |
| Volatility (annualized) | 62.7% | 65.5% |
| Max drawdown | -25.6% (Apr 2026→Jun 2026) | -92.0% (Dec 2021→Aug 2025) |

## Dividends
VIR paid no cash dividend in the last five years.

## Short interest
16,236,717 shares sold short, 9.72% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 19,660,671 shares (-17.4%). Days to cover: 7.2 (short shares ÷ average daily volume).

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.20% · ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/VIR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in VIR's own 10-K filed 2026-02-23 (https://www.sec.gov/Archives/edgar/data/1706431/000162828026010749/vir-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Wellcome UK Limited and GlaxoSmithKline Biologicals | "In June 2020, we entered into a definitive collaboration agreement with GSK (the 2020 GSK Agreement), pursuant to which we agreed to collaborate to research, develop and commercialize products for the prevention, treatme…" |
| Partner | ALNYLAM PHARMACEUTICALS, INC. (ALNY) | "Collaboration and License Agreement with Alnylam" |
| Partner | Brii Biosciences | "In May 2018, we entered into a collaboration, option and license agreement with Brii Biosciences Limited (Brii Bio Parent) (formerly known as BiiG Therapeutics Limited), and Brii Bio (and such agreement, the Brii Agreeme…" |
| Partner | BiiG Therapeutics | "In May 2018, we entered into a collaboration, option and license agreement with Brii Biosciences Limited (Brii Bio Parent) (formerly known as BiiG Therapeutics Limited), and Brii Bio (and such agreement, the Brii Agreeme…" |

Other companies that name VIR in their own reports (relationship from VIR's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | ALNYLAM PHARMACEUTICALS, INC. (ALNY) | 10-K 2026-02-12 | "Elebsiran (formerly ALN-HBV02 (VIR-2218)) is a subcutaneously administered, investigational RNAi therapeutic targeting the HBV genome for the treatment of chronic hepatitis delta, or CHD, which is bei…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| License and collaboration revenue | $238.9M | 100.0% | -48369.7% |
| Grant revenue | $11,000 | 0.0% | -94.0% |
| Total revenue | $238.9M | 100% | — |

## Company outlook (8-K filed 2026-08-05)

- "Based on our current operating plans, including the net effects of the Astellas global collaboration, the Company expects its cash, cash equivalents and investments to fund operations into the second half of 2028."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.73 | $-0.81 | +$0.07 | $1.2M | 7 |
| Next quarter (ends 2026-12-31) | $-0.63 | $-0.61 | −$0.02 | $5.2M | 7 |
| Current fiscal year (ends 2026-12-31) | $-1.76 | $-1.37 | −$0.38 | $239.4M | 7 |
| Next fiscal year (ends 2027-12-31) | $-2.49 | $-2.32 | −$0.16 | $76.1M | 7 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.47 | $0.90 | Miss −47.8% | — |
| — | Quarter ended Mar 31, 2026 | −$0.85 | $0.48 | Miss −$1.33 | — |
| — | Quarter ended Dec 31, 2025 | −$0.31 | −$0.45 | Beat +31.1% | — |
| — | Quarter ended Sep 30, 2025 | −$1.17 | −$0.86 | Miss −36.0% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-28 | 8-K | Director or executive officer change, or pay arrangement — “On October 26, 2026, the Board of Directors (the Board) of Vir Biotechnology, Inc. (the Company), upon the recommendation of the Nominating and Corporate Governance Committee of the Board, approved an increase in the size of the Board from eight to nine members and the appointment of Suzanne Topalian, M.D., to fill the newly created vacancy and serve on the Board as a Class III director until the Company's 2028 annual meeting of stockholders, as well as the appointment of Dr. Topalian to the Science and Technology…” | https://www.sec.gov/Archives/edgar/data/1706431/000162828026067742/0001628280-26-067742-index.htm |
| 2026-10-27 | Schedule 13G/A | BlackRock, Inc.: 12.4% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1706431/000201238326003861/0002012383-26-003861-index.htm |
| 2026-10-14 | 8-K | Unregistered sale of shares; Other material event — “On October 14, 2026, Vir Bio issued a press release announcing the entry into the Agreement and the SPA. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference. Forward-Looking Statements This Current Report on Form 8-K (this Form 8-K) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "should," "could," "may," "might," "will," "plan," "potential," "aim," "expect," "anticipate," "promising" and…” | https://www.sec.gov/Archives/edgar/data/1706431/000162828026065826/0001628280-26-065826-index.htm |
| 2026-10-08 | 8-K | Other material event — “On October 8, 2026, Vir Biotechnology, Inc. (the Company) issued a press release announcing that the U.S. Food and Drug Administration has granted Fast Track designation to VIR-5500, a PSMA-targeted PRO-XTEN dual-masked T-cell engager (TCE), for the treatment of late-line metastatic castration-resistant prostate cancer. VIR-5500 is being co-developed by Astellas Pharma Inc. and the Company through a global strategic collaboration. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated…” | https://www.sec.gov/Archives/edgar/data/1706431/000162828026065408/0001628280-26-065408-index.htm |
| 2026-10-01 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure — “On October 1, 2026, Vir Biotechnology, Inc. (the Company) announced that Aziz Sawaf, MBEE, MBA, CFA has been appointed as Executive Vice President and Chief Financial Officer and "principal financial officer" of the Company, effective as of October 5, 2026 (the Effective Date). As of the Effective Date, Brent Sabatini, CPA, MBA, will cease serving as the Company's interim principal financial officer and continue in his role as Senior Vice President and Chief Accounting Officer and "principal accounting officer" of…” | https://www.sec.gov/Archives/edgar/data/1706431/000162828026064117/0001628280-26-064117-index.htm |
| 2026-08-07 | Schedule 13G | STATE STREET CORPORATION: 5.9% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1706431/000009375126000556/0000093751-26-000556-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1706431/000162828026053549/0001628280-26-053549-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1706431/000162828026053351/0001628280-26-053351-index.htm |
| 2026-07-31 | Schedule 13G/A | Vanguard Portfolio Management: 6.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1706431/000210012126000992/0002100121-26-000992-index.htm |
| 2026-07-24 | 8-K | Director or executive officer change, or pay arrangement — “On July 20, 2026, Jason O'Byrne, MBA, Executive Vice President and Chief Financial Officer of Vir Biotechnology, Inc. (Vir Bio), informed Vir Bio that he will be stepping down from his role, effective August 3, 2026, to pursue another opportunity. Mr. O'Byrne's resignation was not because of any disagreement with Vir Bio on any matter relating to Vir Bio's operations, policies, or practices. Vir Bio has initiated a search for his successor. Additionally, on July 23, 2026, the Board of Directors of Vir Bio…” | https://www.sec.gov/Archives/edgar/data/1706431/000162828026049499/0001628280-26-049499-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.