Leerink Partners Issues Positive Forecast for Vir Biotechnology (NASDAQ:VIR) Stock Price

Vir Biotechnology (NASDAQ:VIR) had its target price lifted by Leerink Partners from $18.00 to $20.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on VIR. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. Barclays cut their price objective on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Vir Biotechnology Stock Up 2.6 %

Shares of NASDAQ VIR opened at $10.50 on Monday. The business has a 50-day moving average of $8.27 and a 200-day moving average of $8.37. Vir Biotechnology has a 1-year low of $6.56 and a 1-year high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results 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 return on equity of 36.71% and a negative net margin of 678.40%. The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. During the same quarter last year, the firm posted ($1.22) EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Analysts anticipate that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the sale, the director now directly owns 1,312,391 shares in the company, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 14,786 shares of company stock valued at $170,172 in the last ninety days. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted 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 valued at $30,000 after acquiring an additional 2,351 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Vir Biotechnology in the third quarter valued at $56,000. Magnetar Financial LLC bought a new position in Vir Biotechnology during the second quarter valued at about $95,000. Quest Partners LLC grew its holdings in Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after acquiring an additional 7,452 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Vir Biotechnology during the 2nd quarter valued at about $119,000. 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).