Vir Biotechnology (NASDAQ:VIR) Trading 7.1% Higher – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR) shares were up 7.1% during mid-day trading on Monday . The stock traded as high as $8.03 and last traded at $8.03. Approximately 140,410 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 442,614 shares. The stock had previously closed at $7.50.

Analysts Set New Price Targets

Several equities analysts have recently commented on VIR shares. Barclays decreased their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. 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, November 20th. Finally, HC Wainwright restated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Vir Biotechnology has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Vir Biotechnology Stock Performance

The company’s 50-day moving average price is $7.97 and its 200-day moving average price is $8.30. The firm has a market capitalization of $1.10 billion, a PE ratio of -2.05 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last posted 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 firm had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.22) EPS. As a group, analysts anticipate that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current year.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew 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 period. nVerses Capital LLC acquired a new position in Vir Biotechnology during the third quarter worth $56,000. Magnetar Financial LLC acquired a new position in Vir Biotechnology during the second quarter worth $95,000. Quest Partners LLC boosted its position in Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after purchasing an additional 7,452 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Vir Biotechnology in the third quarter valued at $118,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).