Vir Biotechnology’s (VIR) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research report released on Monday, Benzinga reports. The firm currently has a $110.00 target price on the stock.

A number of other research analysts have also issued reports on the company. Barclays reduced their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Vir Biotechnology Stock Performance

Shares of VIR opened at $9.37 on Monday. The stock has a fifty day moving average price of $7.77 and a 200 day moving average price of $8.88. Vir Biotechnology has a 12 month low of $7.12 and a 12 month high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. During the same quarter last year, the firm posted ($1.22) EPS. The company’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that Vir Biotechnology will post -3.26 EPS for the current fiscal year.

Insider Activity

In other news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now directly owns 11,616 shares of the company’s stock, valued at $90,604.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds have recently modified their holdings of VIR. Millennium Management LLC raised its position in Vir Biotechnology by 94.6% during the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after buying an additional 606,804 shares during the period. Federated Hermes Inc. raised its position in Vir Biotechnology by 19,327.1% during the second quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock valued at $2,671,000 after buying an additional 298,603 shares during the period. Affinity Asset Advisors LLC acquired a new position in Vir Biotechnology during the second quarter valued at $1,780,000. Cubist Systematic Strategies LLC raised its position in Vir Biotechnology by 6,402.0% during the second quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock valued at $1,679,000 after buying an additional 185,723 shares during the period. Finally, Algert Global LLC acquired a new position in Vir Biotechnology during the second quarter valued at $1,485,000. 65.32% of the stock is owned by hedge funds and other institutional investors.

About Vir Biotechnology

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).