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

HC Wainwright reaffirmed their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research note released on Friday,Benzinga reports. They currently have a $110.00 price target on the stock.

VIR has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays dropped their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $20.00 in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Vir Biotechnology Stock Down 3.0 %

Shares of NASDAQ:VIR opened at $12.10 on Friday. The business has a 50-day moving average price of $8.24 and a 200-day moving average price of $8.36. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -3.09 and a beta of 0.51. Vir Biotechnology has a 52-week low of $6.56 and a 52-week high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The business had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.22) earnings per share. As a group, equities analysts anticipate that Vir Biotechnology will post -3.36 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 Vir Biotechnology stock in a transaction dated 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 $16,431,135.32. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 14,786 shares of company stock valued at $170,172. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of Vir Biotechnology by 4.3% during the second quarter. Rhumbline Advisers now owns 238,504 shares of the company’s stock valued at $2,123,000 after acquiring an additional 9,817 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Vir Biotechnology by 41.5% in the 2nd quarter. Victory Capital Management Inc. now owns 65,573 shares of the company’s stock valued at $584,000 after purchasing an additional 19,216 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Vir Biotechnology in the 2nd quarter valued at $119,000. Quest Partners LLC boosted its stake in Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after purchasing an additional 7,452 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of Vir Biotechnology by 175.2% during the second quarter. Headlands Technologies LLC now owns 32,289 shares of the company’s stock worth $287,000 after buying an additional 20,556 shares in the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

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).