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

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $110.00 target price on the stock.

VIR has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lowered their price objective 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. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $20.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology has an average rating of “Moderate Buy” and an average target price of $37.80.

Vir Biotechnology Stock Performance

Shares of NASDAQ:VIR opened at $12.10 on Friday. The firm has a 50 day simple moving average of $8.24 and a 200 day simple moving average of $8.36. Vir Biotechnology has a 52 week low of $6.56 and a 52 week high of $14.45. The company has a market cap of $1.67 billion, a PE ratio of -3.09 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last released its 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). The business had revenue of $2.38 million during 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%. During the same quarter in the previous year, the company earned ($1.22) EPS. Vir Biotechnology’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts predict that Vir Biotechnology will post -3.36 earnings per share for the current year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the sale, the director now directly owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 14,786 shares of company stock valued at $170,172. 15.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after buying an additional 2,351 shares during the last quarter. Public Sector Pension Investment Board boosted its stake 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 worth $1,455,000 after acquiring an additional 2,600 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Vir Biotechnology by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,987 shares of the company’s stock valued at $436,000 after acquiring an additional 3,605 shares during the last quarter. Barclays PLC raised its stake in shares of Vir Biotechnology by 1.3% in the 3rd quarter. Barclays PLC now owns 550,186 shares of the company’s stock valued at $4,121,000 after acquiring an additional 7,287 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Vir Biotechnology by 142.1% in the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after purchasing an additional 7,452 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

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).