Vir Biotechnology’s (VIR) Buy Rating Reaffirmed at HC Wainwright

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $110.00 price objective on the stock.

Several other research firms have also issued reports on VIR. Barclays reduced their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research report on Thursday. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. JPMorgan Chase & Co. lifted their price target on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. Finally, Leerink Partners lifted their price objective on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.83.

Vir Biotechnology Stock Down 0.6 %

NASDAQ:VIR opened at $8.06 on Friday. The business’s 50-day moving average price is $9.44 and its two-hundred day moving average price is $8.50. Vir Biotechnology has a twelve month low of $6.56 and a twelve month high of $14.45. The stock has a market cap of $1.11 billion, a P/E ratio of -2.04 and a beta of 0.63.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09. The company had revenue of $12.37 million for the quarter, compared to analysts’ expectations of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. On average, equities research analysts expect that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of the company’s 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 transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George A. Scangos sold 10,964 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the sale, the director now owns 708,295 shares in the company, valued at $6,948,373.95. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,935 shares of company stock valued at $327,082. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its position in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after purchasing an additional 2,351 shares during the period. Victory Capital Management Inc. lifted its stake in shares of 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 last quarter. Quest Partners LLC lifted its stake in shares of Vir Biotechnology by 171.4% during the 3rd quarter. Quest Partners LLC now owns 34,455 shares of the company’s stock worth $258,000 after acquiring an additional 21,760 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Vir Biotechnology during the 3rd quarter worth approximately $191,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Vir Biotechnology by 13.6% during the 3rd 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 during the period. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).