Tearsheet

Vir Biotechnology (VIR)


Market Price (3/15/2026): $9.22 | Market Cap: $1.3 Bil
Sector: Health Care | Industry: Biotechnology

Vir Biotechnology (VIR)


Market Price (3/15/2026): $9.22
Market Cap: $1.3 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
Weak multi-year price returns
2Y Excs Rtn is -51%, 3Y Excs Rtn is -129%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -480 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -721%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66%
  Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
2 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
  Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 74%
3   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -589%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -596%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -38%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66%
2 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
3 Weak multi-year price returns
2Y Excs Rtn is -51%, 3Y Excs Rtn is -129%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -480 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -721%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 74%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -589%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -596%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -38%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Vir Biotechnology (VIR) stock has gained about 45% since 11/30/2025 because of the following key factors:

1. Significant Q4 2025 Earnings Beat and Strategic Collaboration: Vir Biotechnology reported robust fourth-quarter 2025 financial results on February 23-24, 2026, with revenue reaching $64.1 million, significantly surpassing the consensus estimate of $1.4 million. This surge was primarily driven by a $64.3 million license payment from Norgine. The company also reported an earnings per share (EPS) of -$0.31, beating analysts' expectations of -$0.54. Concurrently, Vir Biotechnology announced a major strategic collaboration with Astellas for VIR-5500, a prostate cancer treatment candidate, valued at up to $1.7 billion, including $335 million in near-term capital. These dual catalysts led to a substantial increase in the stock price, with shares surging approximately 30.6% on February 24, 2026.

2. Positive Clinical Progress in Oncology and Infectious Diseases: The company delivered positive updated Phase 1 data for its oncology candidate, VIR-5500 (a PSMA-targeted PRO-XTEN® dual-masked T-cell engager), in metastatic castration-resistant prostate cancer (mCRPC). This data, presented in February 2026, demonstrated dose-dependent anti-tumor activity and a favorable safety profile, with plans to initiate pivotal Phase 3 trials in 2027. In its chronic hepatitis delta (CHD) program, Vir Biotechnology announced the completion of enrollment for the ECLIPSE 1 Phase 3 trial in November 2025, approximately two months ahead of schedule. Further positive updated Phase 2 SOLSTICE data in January 2026 showed that the combination therapy of tobevibart and elebsiran achieved undetectable HDV RNA in 88% of evaluable participants at 96 weeks.

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Stock Movement Drivers

Fundamental Drivers

The 44.2% change in VIR stock from 11/30/2025 to 3/14/2026 was primarily driven by a 373.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)113020253142026Change
Stock Price ($)6.429.2644.2%
Change Contribution By: 
Total Revenues ($ Mil)1467373.9%
P/S Multiple63.519.4-69.5%
Shares Outstanding (Mil)139139-0.2%
Cumulative Contribution44.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/14/2026
ReturnCorrelation
VIR44.2% 
Market (SPY)-3.1%30.6%
Sector (XLV)-5.0%18.1%

Fundamental Drivers

The 87.4% change in VIR stock from 8/31/2025 to 3/14/2026 was primarily driven by a 362.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)83120253142026Change
Stock Price ($)4.949.2687.4%
Change Contribution By: 
Total Revenues ($ Mil)1467362.2%
P/S Multiple47.519.4-59.2%
Shares Outstanding (Mil)138139-0.6%
Cumulative Contribution87.4%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/14/2026
ReturnCorrelation
VIR87.4% 
Market (SPY)3.0%35.7%
Sector (XLV)9.5%23.8%

Fundamental Drivers

The 10.4% change in VIR stock from 2/28/2025 to 3/14/2026 was primarily driven by a 7.6% change in the company's P/S Multiple.
(LTM values as of)22820253142026Change
Stock Price ($)8.399.2610.4%
Change Contribution By: 
Total Revenues ($ Mil)64674.4%
P/S Multiple18.019.47.6%
Shares Outstanding (Mil)137139-1.7%
Cumulative Contribution10.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/14/2026
ReturnCorrelation
VIR10.4% 
Market (SPY)12.4%40.1%
Sector (XLV)1.9%39.3%

Fundamental Drivers

The -59.4% change in VIR stock from 2/28/2023 to 3/14/2026 was primarily driven by a -95.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820233142026Change
Stock Price ($)22.809.26-59.4%
Change Contribution By: 
Total Revenues ($ Mil)1,58067-95.8%
P/S Multiple1.919.4908.9%
Shares Outstanding (Mil)133139-4.4%
Cumulative Contribution-59.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/14/2026
ReturnCorrelation
VIR-59.4% 
Market (SPY)73.4%30.6%
Sector (XLV)23.3%26.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VIR Return56%-40%-60%-27%-18%63%-63%
Peers Return47%14%-6%-8%23%21%115%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
VIR Win Rate33%42%50%33%50%100% 
Peers Win Rate55%50%47%48%57%53% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
VIR Max Drawdown-2%-56%-69%-33%-42%-4% 
Peers Max Drawdown-4%-24%-26%-27%-17%-7% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GILD, REGN, AMGN, MRNA, ALNY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventVIRS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-90.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven970.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-57.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven136.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven78 days148 days

Compare to GILD, REGN, AMGN, MRNA, ALNY

In The Past

Vir Biotechnology's stock fell -90.7% during the 2022 Inflation Shock from a high on 1/27/2021. A -90.7% loss requires a 970.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Vir Biotechnology (VIR)

Vir Biotechnology, Inc., a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus. The company has grant agreements with Bill & Melinda Gates Foundation and National Institutes of Health; an option and license agreement with Brii Biosciences Limited and Brii Biosciences Offshore Limited; a collaboration and license agreement with Alnylam Pharmaceuticals, Inc.; license agreements with The Rockefeller University and MedImmune, Inc.; collaboration with WuXi Biologics and Glaxo Wellcome UK Ltd.; and a collaborative research agreement with GlaxoSmithKline Biologicals SA. It also has a manufacturing agreement with Samsung Biologics Co.,Ltd. for the manufacture of SARS-COV-2 antibodies; and clinical collaboration with Gilead Sciences, Inc. for chronic hepatitis B virus. Vir Biotechnology, Inc. was incorporated in 2016 and is headquartered in San Francisco, California.

AI Analysis | Feedback

Vir Biotechnology is like a specialized Gilead Sciences for a broader range of serious infectious diseases. Think of Vir as a Moderna or Pfizer focused on immunological treatments and preventatives for various serious infectious diseases, not just COVID-19.

AI Analysis | Feedback

```html
  • Sotrovimab (VIR-7832) / Xevudy: A SARS-CoV-2-neutralizing monoclonal antibody for the treatment and prevention of COVID-19 infection.
  • VIR-2218: A therapeutic candidate currently in development for the treatment of hepatitis B virus.
  • VIR-3434: A therapeutic candidate currently in development for the treatment of hepatitis B virus.
  • VIR-2482: A therapeutic candidate currently in development for the prevention of influenza A virus.
  • VIR-1111: A therapeutic candidate currently in development for the prevention of human immunodeficiency virus.
```

AI Analysis | Feedback

Vir Biotechnology (VIR) primarily sells its therapeutic products and intellectual property to other companies, including pharmaceutical partners, for further development, commercialization, and distribution. Based on the provided background information, its major customers include:

  • GlaxoSmithKline (GSK) - NYSE: GSK
  • Brii Biosciences Limited (BRII) - NASDAQ: BRII
  • Alnylam Pharmaceuticals, Inc. (ALNY) - NASDAQ: ALNY

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  • Samsung Biologics Co.,Ltd. (207940.KS)
  • WuXi Biologics (2269.HK)

AI Analysis | Feedback

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AI Analysis | Feedback

The continuous emergence of new SARS-CoV-2 variants that may reduce or eliminate the efficacy of its commercial-stage COVID-19 antibody treatment, Sotrovimab (Xevudy), thereby rendering the product obsolete or significantly less competitive.

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Better Bets vs. Vir Biotechnology (VIR)

Latest Trefis Analyses

Trade Ideas

Select ideas related to VIR.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
QDEL_2282026_Insider_Buying_45D_2Buy_200K02282026QDELQuidelOrthoInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%
CHE_2272026_Dip_Buyer_FCFYield02272026CHEChemedDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.0%0.0%0.0%
LLY_2272026_Monopoly_xInd_xCD_Getting_Cheaper02272026LLYEli LillyMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
0.0%0.0%0.0%
HAE_2202026_Dip_Buyer_FCFYield02202026HAEHaemoneticsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.5%3.5%0.0%
IQV_2132026_Dip_Buyer_ValueBuy02132026IQVIQVIADip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
7.1%7.1%-3.0%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VIRGILDREGNAMGNMRNAALNYMedian
NameVir Biot.Gilead S.Regenero.Amgen Moderna Alnylam . 
Mkt Price9.26144.99745.77366.2152.56313.41229.20
Mkt Cap1.3179.976.9197.020.641.459.2
Rev LTM6729,44114,34336,7511,9223,7149,028
Op Inc LTM-48011,6993,7029,080-3,0745022,102
FCF LTM-3979,4563,7658,100-2,0754652,115
FCF 3Y Avg-5509,0613,6578,618-3,3181551,906
CFO LTM-39210,0194,9799,958-1,8735242,751
CFO 3Y Avg-5399,6184,6649,973-2,6652072,436

Growth & Margins

VIRGILDREGNAMGNMRNAALNYMedian
NameVir Biot.Gilead S.Regenero.Amgen Moderna Alnylam . 
Rev Chg LTM4.4%2.4%1.0%10.0%-39.9%65.2%3.4%
Rev Chg 3Y Avg-10.6%2.6%5.7%11.9%-52.3%54.8%4.1%
Rev Chg Q465.3%4.7%2.5%8.6%-29.3%84.9%6.6%
QoQ Delta Rev Chg LTM373.9%1.2%0.7%2.2%-12.7%15.7%1.7%
Op Mgn LTM-720.9%39.7%25.8%24.7%-159.9%13.5%19.1%
Op Mgn 3Y Avg-1,095.3%36.4%29.0%24.8%-115.3%-3.3%10.8%
QoQ Delta Op Mgn LTM3,216.2%1.1%-0.9%0.6%-2.7%5.3%0.8%
CFO/Rev LTM-589.0%34.0%34.7%27.1%-97.5%14.1%20.6%
CFO/Rev 3Y Avg-1,087.2%33.7%33.6%30.5%-79.2%6.5%18.5%
FCF/Rev LTM-596.2%32.1%26.3%22.0%-108.0%12.5%17.3%
FCF/Rev 3Y Avg-1,111.6%31.8%26.4%26.4%-97.1%4.3%15.3%

Valuation

VIRGILDREGNAMGNMRNAALNYMedian
NameVir Biot.Gilead S.Regenero.Amgen Moderna Alnylam . 
Mkt Cap1.3179.976.9197.020.641.459.2
P/S19.46.15.45.410.711.28.4
P/EBIT-2.716.614.616.8-7.572.015.6
P/E-2.921.117.125.6-7.3132.119.1
P/CFO-3.318.015.419.8-11.079.116.7
Total Yield-34.0%7.0%6.3%6.5%-13.7%0.8%3.5%
Dividend Yield0.0%2.2%0.5%2.6%0.0%0.0%0.2%
FCF Yield 3Y Avg-50.5%7.5%4.4%5.6%-17.7%0.3%2.4%
D/E0.10.10.00.30.10.00.1
Net D/E-0.30.1-0.10.2-0.2-0.0-0.1

Returns

VIRGILDREGNAMGNMRNAALNYMedian
NameVir Biot.Gilead S.Regenero.Amgen Moderna Alnylam . 
1M Rtn20.1%-4.0%-4.7%0.0%31.0%1.6%0.8%
3M Rtn38.4%21.9%0.7%16.1%78.4%-21.2%19.0%
6M Rtn85.2%29.0%33.5%34.4%123.6%-32.7%33.9%
12M Rtn29.5%33.6%12.4%20.4%51.8%29.6%29.6%
3Y Rtn-60.6%101.5%-1.2%71.3%-64.9%68.7%33.7%
1M Excs Rtn27.2%-4.0%-1.8%2.3%32.1%-0.4%1.0%
3M Excs Rtn43.0%22.6%4.4%18.5%82.7%-20.9%20.6%
6M Excs Rtn74.2%22.5%28.7%28.5%104.2%-36.0%28.6%
12M Excs Rtn5.4%10.5%-12.3%-0.1%29.1%8.3%6.8%
3Y Excs Rtn-128.9%32.3%-69.0%6.4%-132.7%-5.1%-37.1%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Business of powering the immune system to transform lives by discovering and developing medicines7486   
Collaboration revenue  1,5059170
Contract revenue  5317044
Grant revenue  3589
License revenue from a related party  22023
Total74861,6161,09576


Net Income by Segment
$ Mil20252024202320222021
Business of powering the immune system to transform lives by discovering and developing medicines-522    
Total-522    


Price Behavior

Price Behavior
Market Price$9.26 
Market Cap ($ Bil)1.3 
First Trading Date10/11/2019 
Distance from 52W High-7.4% 
   50 Days200 Days
DMA Price$7.68$6.02
DMA Trendupup
Distance from DMA20.6%53.7%
 3M1YR
Volatility88.2%72.5%
Downside Capture160.25212.66
Upside Capture404.35202.90
Correlation (SPY)32.2%38.9%
VIR Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta3.692.732.492.331.501.51
Up Beta3.366.325.224.351.221.27
Down Beta0.570.350.521.211.181.25
Up Capture725%558%448%434%320%283%
Bmk +ve Days9203170142431
Stock +ve Days10202963120352
Down Capture238%74%136%143%147%112%
Bmk -ve Days12213054109320
Stock -ve Days11213258124387

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VIR
VIR30.4%72.5%0.66-
Sector ETF (XLV)5.0%17.5%0.1239.5%
Equity (SPY)19.6%18.9%0.8139.2%
Gold (GLD)71.9%26.3%2.058.1%
Commodities (DBC)19.3%17.3%0.898.6%
Real Estate (VNQ)6.2%16.3%0.1931.5%
Bitcoin (BTCUSD)-15.3%44.2%-0.2522.7%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VIR
VIR-25.8%74.9%-0.08-
Sector ETF (XLV)7.5%14.5%0.3326.4%
Equity (SPY)13.1%17.0%0.6129.6%
Gold (GLD)24.1%17.3%1.147.3%
Commodities (DBC)11.2%19.0%0.470.1%
Real Estate (VNQ)4.8%18.8%0.1621.2%
Bitcoin (BTCUSD)6.3%56.7%0.3316.0%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VIR
VIR-3.8%97.3%0.36-
Sector ETF (XLV)10.1%16.5%0.5013.4%
Equity (SPY)14.5%17.9%0.7014.6%
Gold (GLD)14.4%15.6%0.777.2%
Commodities (DBC)8.6%17.6%0.40-0.7%
Real Estate (VNQ)5.6%20.7%0.239.6%
Bitcoin (BTCUSD)67.4%66.8%1.078.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity13.7 Mil
Short Interest: % Change Since 21520267.0%
Average Daily Volume7.8 Mil
Days-to-Cover Short Interest1.8 days
Basic Shares Quantity139.2 Mil
Short % of Basic Shares9.8%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/23/202627.7%25.7% 
11/5/2025-5.2%5.7%21.9%
8/6/2025-14.4%-10.0%3.7%
5/7/2025-3.6%-19.8%-2.9%
2/26/2025-11.8%-10.7%-27.5%
10/31/202423.6%30.4%8.8%
8/1/2024-5.3%-11.4%-15.1%
5/2/202413.2%4.1%15.8%
...
SUMMARY STATS   
# Positive13913
# Negative111510
Median Positive7.0%9.1%15.8%
Median Negative-5.3%-10.0%-21.2%
Max Positive27.7%30.4%29.8%
Max Negative-44.9%-39.0%-46.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/23/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/04/202410-Q
06/30/202408/01/202410-Q
03/31/202405/03/202410-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/08/202310-Q
12/31/202202/28/202310-K
09/30/202211/03/202210-Q
06/30/202208/09/202210-Q
03/31/202205/05/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Sato, Vicki L DirectSell10520265.9322,000130,3836,912,616Form
2Svf, Endurance (cayman) LtdSee footnoteSell120320255.98191,8541,147,78682,134,661Form
3Sato, Vicki L DirectSell120220256.0022,000132,0707,134,149Form
4Svf, Endurance (cayman) LtdSee footnoteSell120120256.39127,938817,65289,360,694Form
5Svf, Endurance (cayman) LtdSee footnoteSell120120256.4461,493396,01589,649,810Form