Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $34.83 Average PT from Brokerages

Vir Biotechnology, Inc. (NASDAQ:VIR) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $34.83.

Several brokerages have commented on VIR. JPMorgan Chase & Co. raised their target price on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Barclays cut their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Finally, Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $20.00 in a research report on Thursday, January 9th.

Vir Biotechnology Stock Up 0.6 %

NASDAQ VIR opened at $10.11 on Monday. The company’s 50 day moving average is $8.28 and its 200-day moving average is $8.40. The firm has a market cap of $1.39 billion, a P/E ratio of -2.58 and a beta of 0.51. Vir Biotechnology has a 12-month low of $6.56 and a 12-month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last issued 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). 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 the consensus estimate of $5.54 million. During the same period in the previous year, the firm earned ($1.22) EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Equities analysts expect that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the sale, the director now owns 1,312,391 shares in the company, valued at approximately $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 can be accessed through this link. Insiders sold a total of 14,786 shares of company stock worth $170,172 over the last three months. 15.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Vir Biotechnology by 94.6% during the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after purchasing an additional 606,804 shares during the last quarter. State Street Corp raised its holdings in shares of Vir Biotechnology by 10.4% during the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock valued at $42,135,000 after buying an additional 530,645 shares in the last quarter. Federated Hermes Inc. lifted its position in Vir Biotechnology by 19,327.1% in the 2nd quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock worth $2,671,000 after buying an additional 298,603 shares during the last quarter. Affinity Asset Advisors LLC purchased a new stake in Vir Biotechnology in the second quarter worth approximately $1,780,000. Finally, Cubist Systematic Strategies LLC grew its position in Vir Biotechnology by 6,402.0% during the second quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock valued at $1,679,000 after acquiring an additional 185,723 shares during the last quarter. 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).