Vir Biotechnology, Inc. (NASDAQ:VIR) Receives Average Rating of “Moderate Buy” from Brokerages

Vir Biotechnology, Inc. (NASDAQ:VIR) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $34.14.

Several brokerages have issued reports on VIR. JPMorgan Chase & Co. boosted their target price on Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. HC Wainwright restated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, June 5th. Needham & Company LLC increased their target price on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Finally, Morgan Stanley boosted their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th.

Insider Activity

In other news, EVP Ann M. Hanly sold 2,711 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.05, for a total value of $27,245.55. Following the completion of the transaction, the executive vice president now directly owns 132,069 shares in the company, valued at $1,327,293.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ann M. Hanly sold 2,711 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.05, for a total transaction of $27,245.55. Following the completion of the transaction, the executive vice president now directly owns 132,069 shares in the company, valued at approximately $1,327,293.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Saira Ramasastry sold 4,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $10.95, for a total value of $43,800.00. Following the completion of the sale, the director now owns 14,619 shares in the company, valued at approximately $160,078.05. The disclosure for this sale can be found here. Insiders have sold a total of 79,706 shares of company stock worth $761,578 over the last ninety days. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in Vir Biotechnology in the first quarter valued at approximately $352,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Vir Biotechnology by 5.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 310,091 shares of the company’s stock worth $3,141,000 after buying an additional 16,615 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Vir Biotechnology during the 1st quarter valued at $259,000. Vanguard Group Inc. lifted its holdings in shares of Vir Biotechnology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock worth $125,362,000 after acquiring an additional 78,216 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Vir Biotechnology by 8.4% during the 1st quarter. ProShare Advisors LLC now owns 26,392 shares of the company’s stock worth $267,000 after acquiring an additional 2,035 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Stock Performance

NASDAQ VIR opened at $8.87 on Friday. Vir Biotechnology has a 52-week low of $7.61 and a 52-week high of $25.37. The company has a 50-day simple moving average of $9.74 and a 200 day simple moving average of $9.90.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The company had revenue of $56.38 million during the quarter, compared to analyst estimates of $11.71 million. During the same quarter last year, the business posted ($1.06) EPS. Vir Biotechnology’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts anticipate that Vir Biotechnology will post -3.57 earnings per share for the current year.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.