Vir Biotech CEO de Backer sells $140k in shares
#Vir Biotechnology #Marianne De Backer #Insider Trading #VIR-5500 #Stock Offering #Prostate Cancer Treatment #Analyst Price Target #Rule 10b5-1
📌 Key Takeaways
- Vir Biotech CEO Marianne De Backer sold $140,720 worth of company shares
- The sale was executed automatically under a Rule 10b5-1 trading plan to cover tax obligations
- Vir Biotechnology has announced significant stock offerings totaling $350 million
- Analysts have raised price targets following positive Phase 1 data for VIR-5500 prostate cancer treatment
📖 Full Retelling
Marianne De Backer, CEO of Vir Biotechnology (NASDAQ:VIR), sold 14,762 shares of common stock on February 24, 2026, in a transaction valued at approximately $140,720 to cover tax withholding obligations related to the vesting of restricted stock units. The shares were sold at $9.5326 each as part of a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares according to a predetermined schedule without concerns about insider trading allegations. Following the transaction, De Backer directly maintains ownership of 1,020,704 shares while holding an additional 53,118 shares indirectly through the Ureel-De Backer Family Trust. The sale occurred as Vir Biotechnology's stock has experienced significant growth, surging 78% over the past six months, though current trading at $9.32 has raised questions about potential overvaluation according to market analysts. The company has been actively pursuing financial expansion, having recently announced a $150 million stock offering priced at $8.50 per share, following an earlier planned $200 million offering. Additionally, Vir Biotechnology has strengthened its position through a strategic partnership with Astellas and released promising Phase 1 data for its PSMA T-cell engager, VIR-5500, which targets metastatic castration-resistant prostate cancer. These developments have positively influenced analyst sentiment, with Leerink Partners raising their price target from $16 to $20 and Needham increasing theirs from $14 to $18, both maintaining Outperform ratings for the biotechnology company.
🏷️ Themes
Insider Trading, Biotech Developments, Stock Market Performance
📚 Related People & Topics
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# Insider Trading **Insider trading** is the trading of a public company's stock or other securities (such as bonds or stock options) based on **material, nonpublic information** about the company. While the practice is common, its legality is subject to complex regulations that vary significantly ...
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Original Source
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Netflix declines to match Paramount Skydance bid for Warner Bros Dorsey’s Block slashes workforce 40% to embrace AI-native future, shares gain This is where Deutsche Bank sees silver prices ending the year Gold prices mixed as U.S.-Iran nuclear talks end after ’significant progress’ (South Africa Philippines Nigeria) Vir Biotech CEO de Backer sells $140k in shares By Investing.com Insider Trading Published 02/26/2026, 10:22 PM Vir Biotech CEO de Backer sells $140k in shares 0 VIR -6.80% Vir Biotechnology (NASDAQ:VIR) Chief Executive Officer Marianne De Backer sold 14,762 shares of common stock on February 24, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $9.5326, for a total transaction value of approximately $140,720. The sale comes as the stock has surged 78% over the past six months, though the current price of $9.32 suggests the company may be overvalued according to InvestingPro analysis. Following the transaction, De Backer directly owns 1,020,704 shares of Vir Biotechnology. Additionally, she indirectly owns 53,118 shares through the Ureel-De Backer Family Trust, where she and her spouse serve as trustees. The sale was executed automatically under a pre-arranged Rule 10b5-1 trading plan to cover Vir Biotechnology’s tax withholding obligations related to the vesting of restricted stock units. In other recent news, Vir Biotechnology has been active with several significant developments. The company announced a $150 million stock offering, pricing 17,647,058 shares at $8.50 each, with a 30-day option for underwriters to purchase an additional 2,647,058 shares. This move follows an earlier announcement of a planned $200 million stock offering. In terms of partnerships and product development, Vir Biotechnology has entered a strategic partnership with Astellas and released Phase 1 data for its PSMA T-cell engager, VIR-5500. These developme...
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