Vir Biotechnology’s (VIR) “Buy” Rating Reiterated at HC Wainwright

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $110.00 price objective on the stock.

Several other equities analysts have also recently commented on VIR. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $20.00 in a research report on Thursday. Finally, Barclays cut their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Vir Biotechnology Stock Performance

Vir Biotechnology stock opened at $12.10 on Friday. Vir Biotechnology has a 52 week low of $6.56 and a 52 week high of $14.45. The firm has a market capitalization of $1.67 billion, a PE ratio of -3.09 and a beta of 0.51. The business’s 50-day simple moving average is $8.24 and its 200-day simple moving average is $8.36.

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

Insider Activity

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the transaction, the director now owns 1,312,391 shares in the company, valued at $16,431,135.32. This trade represents 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 at this link. In the last three months, insiders have sold 14,786 shares of company stock worth $170,172. Corporate insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in Vir Biotechnology by 143.5% in the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after buying an additional 2,351 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Vir Biotechnology in the third quarter valued at approximately $56,000. Magnetar Financial LLC acquired a new position in shares of Vir Biotechnology in the 2nd quarter worth approximately $95,000. Quest Partners LLC grew its position in Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after acquiring an additional 7,452 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Vir Biotechnology during the 3rd quarter valued at $118,000. 65.32% of the stock is currently owned by 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).