Vir Biotechnology (NASDAQ:VIR) Trading 11.2% Higher

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) traded up 11.2% during trading on Thursday . The company traded as high as $9.32 and last traded at $9.31. 595,315 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 1,104,515 shares. The stock had previously closed at $8.37.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VIR shares. Needham & Company LLC raised their price target 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. Morgan Stanley raised their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

Vir Biotechnology Price Performance

The firm has a market capitalization of $1.25 billion, a PE ratio of -2.21 and a beta of 0.48. The company’s fifty day simple moving average is $9.83 and its 200-day simple moving average is $9.83.

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

Insider Buying and Selling at Vir Biotechnology

In other news, Director Saira Ramasastry sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total transaction of $43,800.00. Following the completion of the sale, the director now owns 14,619 shares of the company’s stock, valued at $160,078.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Vir Biotechnology by 249.9% in the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $27,000 after purchasing an additional 1,934 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Vir Biotechnology by 274.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after purchasing an additional 2,177 shares during the period. Signaturefd LLC grew its holdings in shares of Vir Biotechnology by 258.5% in the fourth quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock valued at $33,000 after purchasing an additional 2,399 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Vir Biotechnology in the fourth quarter valued at about $69,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Vir Biotechnology in the fourth quarter valued at about $110,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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.