Analysts Set Vir Biotechnology, Inc. (NASDAQ:VIR) PT at $34.83

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $34.83.

Several research firms have issued reports on VIR. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. Barclays dropped their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Leerink Partners lifted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th.

Vir Biotechnology Stock Performance

VIR stock opened at $10.50 on Monday. Vir Biotechnology has a fifty-two week low of $6.56 and a fifty-two week high of $14.45. The business’s 50 day moving average price is $8.27 and its two-hundred day moving average price is $8.37. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -2.68 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Vir Biotechnology’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.22) earnings per share. Sell-side analysts forecast that Vir Biotechnology will post -3.36 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology 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 sale, the director now directly owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 14,786 shares of company stock worth $170,172. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds have recently added to or reduced their stakes in VIR. Blue Trust Inc. grew its position in shares of Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after acquiring an additional 2,351 shares during the period. nVerses Capital LLC bought a new position in Vir Biotechnology in the 3rd quarter worth $56,000. Magnetar Financial LLC bought a new position in shares of Vir Biotechnology during the 2nd quarter valued at about $95,000. Quest Partners LLC boosted its holdings in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after purchasing an additional 7,452 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Vir Biotechnology during the 2nd quarter valued at about $119,000. 65.32% of the stock is currently 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).