Vir Biotechnology, Inc. (NASDAQ:VIR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Vir Biotechnology, Inc. (NASDAQ:VIR) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.83.

Several brokerages recently issued reports on VIR. Barclays cut their price objective on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Leerink Partners boosted their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $10.00 to $20.00 in a research note on Thursday. Finally, HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Friday.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 10,960 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. This represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 14,786 shares of company stock worth $170,172. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased 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 valued at $30,000 after acquiring an additional 2,351 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Vir Biotechnology by 1.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 194,208 shares of the company’s stock valued at $1,455,000 after purchasing an additional 2,600 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Vir Biotechnology by 7.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,987 shares of the company’s stock worth $436,000 after buying an additional 3,605 shares during the last quarter. Barclays PLC increased its holdings in Vir Biotechnology by 1.3% during the 3rd quarter. Barclays PLC now owns 550,186 shares of the company’s stock worth $4,121,000 after purchasing an additional 7,287 shares in the last quarter. Finally, Quest Partners LLC raised its position in Vir Biotechnology by 142.1% in the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Trading Down 10.6 %

VIR traded down $1.28 on Monday, hitting $10.82. The company had a trading volume of 2,070,202 shares, compared to its average volume of 7,465,428. The firm has a market cap of $1.49 billion, a P/E ratio of -2.76 and a beta of 0.51. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $14.45. The company’s fifty day moving average price is $8.24 and its 200 day moving average price is $8.35.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share 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 during the quarter, compared to analysts’ expectations of $5.54 million. During the same period in the previous year, the firm posted ($1.22) earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts predict that Vir Biotechnology will post -3.36 earnings per share for the current year.

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).