Vir Biotechnology (NASDAQ:VIR) Shares Gap Up – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR) gapped up before the market opened on Wednesday . The stock had previously closed at $7.89, but opened at $12.55. Vir Biotechnology shares last traded at $11.61, with a volume of 10,778,855 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on VIR. Barclays cut their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Vir Biotechnology has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Vir Biotechnology Price Performance

The firm has a market cap of $1.83 billion, a PE ratio of -3.39 and a beta of 0.51. The business has a 50-day simple moving average of $7.98 and a 200 day simple moving average of $8.28.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data 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 net margin of 678.40% and a negative return on equity of 36.71%. The firm had revenue of $2.38 million for the quarter, compared to the consensus estimate of $5.54 million. During the same quarter in the previous year, the business earned ($1.22) earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts forecast that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VIR. Blue Trust Inc. grew its stake in shares of Vir Biotechnology by 143.5% in the 3rd 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. nVerses Capital LLC purchased a new stake in Vir Biotechnology during the third quarter valued at approximately $56,000. Magnetar Financial LLC bought a new stake in shares of Vir Biotechnology in the 2nd quarter valued at approximately $95,000. Quest Partners LLC increased 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 during the last quarter. Finally, Captrust Financial Advisors bought a new stake in Vir Biotechnology in the third quarter worth $118,000. 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).