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

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.67.

VIR has been the topic of a number of research reports. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Barclays increased their target price on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th.

Vir Biotechnology Stock Up 0.4 %

Shares of Vir Biotechnology stock opened at $6.70 on Friday. The stock has a market cap of $918.86 million, a price-to-earnings ratio of -1.71 and a beta of 1.17. Vir Biotechnology has a twelve month low of $6.40 and a twelve month high of $14.45. The company’s fifty day moving average is $8.80 and its 200 day moving average is $8.35.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm had revenue of $12.37 million during the quarter, compared to the consensus estimate of $8.14 million. As a group, equities analysts anticipate that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value 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 trade represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Verneuil Vanina De sold 7,373 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the sale, the executive vice president now directly owns 79,460 shares in the company, valued at approximately $726,264.40. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,859 shares of company stock worth $326,458 over the last three months. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in Vir Biotechnology by 23.9% during the 3rd quarter. Victory Capital Management Inc. now owns 81,269 shares of the company’s stock worth $609,000 after acquiring an additional 15,696 shares during the period. Intech Investment Management LLC bought a new stake in shares of Vir Biotechnology during the 3rd quarter valued at about $191,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Vir Biotechnology by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock worth $8,496,000 after purchasing an additional 136,087 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Vir Biotechnology by 77.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 31,900 shares of the company’s stock valued at $239,000 after purchasing an additional 13,893 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Vir Biotechnology during the third quarter valued at approximately $138,000. 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).