Vir Biotechnology (NASDAQ:VIR) Earns “Buy” Rating from HC Wainwright

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $110.00 target price on the stock.

VIR has been the subject of several other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday. Barclays reduced their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.40.

Vir Biotechnology Stock Up 3.1 %

NASDAQ VIR opened at $6.95 on Wednesday. Vir Biotechnology has a twelve month low of $6.56 and a twelve month high of $13.09. The firm has a market cap of $957.15 million, a price-to-earnings ratio of -1.77 and a beta of 0.46. The business has a 50-day moving average price of $7.93 and a 200-day moving average price of $8.89.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The firm had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.22) EPS. Research analysts expect that Vir Biotechnology will post -3.86 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the transaction, the director now owns 11,616 shares in the company, valued at $90,604.80. This represents a 51.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 15,940 shares of company stock valued at $127,410 over the last quarter. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VIR. Louisiana State Employees Retirement System raised its stake in shares of Vir Biotechnology by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company’s stock worth $390,000 after purchasing an additional 1,200 shares during the last quarter. ProShare Advisors LLC increased its holdings in Vir Biotechnology by 8.4% in the first quarter. ProShare Advisors LLC now owns 26,392 shares of the company’s stock valued at $267,000 after buying an additional 2,035 shares in the last quarter. Blue Trust Inc. raised its holdings in Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares during the period. Public Sector Pension Investment Board lifted its position in shares of Vir Biotechnology by 1.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 194,208 shares of the company’s stock valued at $1,455,000 after buying an additional 2,600 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vir Biotechnology by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,647 shares of the company’s stock worth $219,000 after purchasing an additional 3,215 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

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).