Brokerages Set Vir Biotechnology, Inc. (NASDAQ:VIR) Price Target at $35.67

Vir Biotechnology, Inc. (NASDAQ:VIR) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $35.67.

Several equities research analysts have recently weighed in on VIR shares. Leerink Partners raised their target price on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, February 28th. Barclays upped their target price on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Thursday, February 27th.

Vir Biotechnology Stock Performance

Shares of VIR opened at $8.07 on Tuesday. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $14.45. The stock has a market capitalization of $1.11 billion, a PE ratio of -2.06 and a beta of 1.17. The stock has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $8.48.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $12.37 million during the quarter, compared to the consensus estimate of $8.14 million. Analysts predict that Vir Biotechnology will post -3.92 EPS for the current year.

Insiders Place Their Bets

In related news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction 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 transaction, the director now directly owns 1,312,391 shares in the company, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George A. Scangos sold 10,964 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares in the company, valued at $6,948,373.95. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,859 shares of company stock valued at $326,458. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its holdings in Vir Biotechnology by 10.4% in the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after purchasing an additional 530,645 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Vir Biotechnology by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,196,601 shares of the company’s stock valued at $16,127,000 after buying an additional 7,827 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Vir Biotechnology by 58.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock worth $14,059,000 after acquiring an additional 703,360 shares during the period. Millennium Management LLC raised its position in Vir Biotechnology by 55.3% in the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock worth $12,589,000 after acquiring an additional 610,367 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Vir Biotechnology by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,252,655 shares of the company’s stock valued at $9,194,000 after acquiring an additional 118,379 shares during the period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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).