Vir Biotechnology (NASDAQ:VIR) Given New $12.00 Price Target at JPMorgan Chase & Co.

Vir Biotechnology (NASDAQ:VIR) had its price objective hoisted by JPMorgan Chase & Co. from $10.00 to $12.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, HC Wainwright reissued a buy rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology presently has a consensus rating of Moderate Buy and an average target price of $34.63.

Vir Biotechnology Price Performance

NASDAQ VIR traded up $1.21 on Friday, hitting $10.39. 1,691,826 shares of the stock were exchanged, compared to its average volume of 884,968. The company’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $9.60. Vir Biotechnology has a 52-week low of $7.61 and a 52-week high of $27.48. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.59 and a beta of 0.47.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.51. The firm had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. Vir Biotechnology had a negative return on equity of 31.89% and a negative net margin of 677.69%. Vir Biotechnology’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.06) earnings per share. Equities analysts predict that Vir Biotechnology will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Vir Biotechnology news, EVP Phillip Pang sold 3,321 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the completion of the sale, the executive vice president now directly owns 264,679 shares of the company’s stock, valued at $2,710,312.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director George A. Scangos sold 17,722 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $11.65, for a total value of $206,461.30. Following the transaction, the director now directly owns 112,989 shares of the company’s stock, valued at approximately $1,316,321.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Phillip Pang sold 3,321 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.24, for a total value of $34,007.04. Following the completion of the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at $2,710,312.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,831 shares of company stock worth $1,525,844. Insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Vir Biotechnology by 249.9% in the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $27,000 after purchasing an additional 1,934 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Vir Biotechnology by 274.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock worth $30,000 after buying an additional 2,177 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Vir Biotechnology by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock worth $32,000 after buying an additional 1,692 shares during the last quarter. Signaturefd LLC boosted its position in shares of Vir Biotechnology by 258.5% in the fourth quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock valued at $33,000 after acquiring an additional 2,399 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Vir Biotechnology by 69.3% in the third quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock worth $37,000 after acquiring an additional 1,613 shares during the last quarter. Institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.