Vir Biotechnology (NASDAQ:VIR) Shares Up 6.3% – What’s Next?

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) rose 6.3% during trading on Thursday . The stock traded as high as $11.23 and last traded at $11.19. Approximately 759,002 shares changed hands during trading, a decline of 84% from the average daily volume of 4,620,427 shares. The stock had previously closed at $10.53.

Analyst Ratings Changes

Several equities analysts have recently commented on VIR shares. Barclays lowered their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, January 10th. Leerink Partners boosted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Vir Biotechnology Stock Up 6.4 %

The stock has a market capitalization of $1.54 billion, a PE ratio of -2.86 and a beta of 0.51. The stock’s 50-day moving average is $8.35 and its 200 day moving average is $8.44.

Vir Biotechnology (NASDAQ:VIR) last announced 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). The firm had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.22) EPS. As a group, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the sale, the director now owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 14,786 shares of company stock worth $170,172 over the last 90 days. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of VIR. American Century Companies Inc. grew its position in Vir Biotechnology by 12.7% in the second quarter. American Century Companies Inc. now owns 168,235 shares of the company’s stock valued at $1,497,000 after acquiring an additional 18,967 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Vir Biotechnology by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock valued at $5,673,000 after purchasing an additional 58,360 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Vir Biotechnology by 148.3% in the 2nd quarter. Hsbc Holdings PLC now owns 46,222 shares of the company’s stock worth $405,000 after purchasing an additional 27,605 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Vir Biotechnology during the 2nd quarter worth about $431,000. Finally, Public Sector Pension Investment Board lifted its holdings in Vir Biotechnology by 7.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 191,608 shares of the company’s stock valued at $1,705,000 after purchasing an additional 12,949 shares during the last quarter. Institutional investors own 65.32% of the company’s stock.

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).