Vir Biotechnology, Inc. (NASDAQ:VIR) Receives Average Rating of “Moderate Buy” from Brokerages

Vir Biotechnology, Inc. (NASDAQ:VIR) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $34.83.

A number of brokerages recently weighed in on VIR. Barclays decreased their price objective on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Finally, Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $20.00 in a research report on Thursday, January 9th.

Vir Biotechnology Stock Up 0.6 %

Vir Biotechnology stock opened at $10.11 on Monday. Vir Biotechnology has a 52 week low of $6.56 and a 52 week high of $14.45. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -2.58 and a beta of 0.51. The business has a 50-day simple moving average of $8.29 and a 200 day simple moving average of $8.40.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter last year, the firm posted ($1.22) earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. On average, research analysts anticipate that Vir Biotechnology will post -3.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 14,786 shares of company stock valued at $170,172 over the last ninety days. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Vir Biotechnology by 13.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after acquiring an additional 136,087 shares during the period. State Street Corp boosted its position in shares of Vir Biotechnology by 10.4% in the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares during the period. Affinity Asset Advisors LLC purchased a new stake in shares of Vir Biotechnology in the second quarter worth $1,780,000. Point72 Hong Kong Ltd lifted its stake in shares of Vir Biotechnology by 180.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 19,572 shares of the company’s stock valued at $174,000 after buying an additional 12,598 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after buying an additional 606,804 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).