JPMorgan Chase & Co. Increases Vir Biotechnology (NASDAQ:VIR) Price Target to $14.00

Vir Biotechnology (NASDAQ:VIR) had its price target hoisted by JPMorgan Chase & Co. from $10.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.70% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $10.00 to $20.00 in a report on Thursday. Finally, 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 note on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Vir Biotechnology Stock Down 3.0 %

Vir Biotechnology stock opened at $12.10 on Thursday. The company has a fifty day simple moving average of $8.24 and a 200-day simple moving average of $8.36. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.09 and a beta of 0.51. Vir Biotechnology has a 52-week low of $6.56 and a 52-week high of $14.45.

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

Insider Transactions 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 stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 14,786 shares of company stock worth $170,172. 15.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of VIR. Bank of New York Mellon Corp grew its position in Vir Biotechnology by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock valued at $7,238,000 after acquiring an additional 6,359 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Vir Biotechnology by 4.3% in the second quarter. Rhumbline Advisers now owns 238,504 shares of the company’s stock valued at $2,123,000 after purchasing an additional 9,817 shares in the last quarter. Victory Capital Management Inc. increased its stake in Vir Biotechnology by 41.5% during the 2nd quarter. Victory Capital Management Inc. now owns 65,573 shares of the company’s stock worth $584,000 after buying an additional 19,216 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Vir Biotechnology during the 2nd quarter worth approximately $119,000. Finally, Quest Partners LLC boosted its position in Vir Biotechnology by 142.1% in the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares during the period. 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).