Vir Biotechnology (NASDAQ:VIR) Price Target Cut to $26.00 by Analysts at Barclays

Vir Biotechnology (NASDAQ:VIR) had its price target dropped by stock analysts at Barclays from $28.00 to $26.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 169.71% from the stock’s current price.

VIR has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Tuesday, August 20th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Trading Up 2.9 %

Shares of VIR opened at $9.64 on Monday. The stock has a 50 day moving average of $7.77 and a 200 day moving average of $8.88. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.46 and a beta of 0.46. Vir Biotechnology has a 12 month low of $7.12 and a 12 month high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results 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). The business had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.22) earnings per share. As a group, equities research analysts predict that Vir Biotechnology will post -3.26 earnings per share for the current year.

Insider Activity

In related news, Director Janet Napolitano sold 12,190 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the transaction, the director now directly owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 15,940 shares of company stock valued at $127,410 over the last quarter. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Vir Biotechnology by 143.5% in 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 in the last quarter. Innealta Capital LLC bought a new stake in Vir Biotechnology during the 2nd quarter worth approximately $32,000. nVerses Capital LLC purchased a new stake in Vir Biotechnology in the 3rd quarter worth approximately $56,000. Magnetar Financial LLC bought a new position in Vir Biotechnology in the 2nd quarter valued at $95,000. Finally, Quest Partners LLC grew its position in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after purchasing an additional 7,452 shares in the last quarter. 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).