Vir Biotechnology (NASDAQ:VIR) Receives Buy Rating from HC Wainwright

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

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Vir Biotechnology in a research report on Friday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.57.

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock opened at $10.22 on Tuesday. The firm has a market capitalization of $1.37 billion, a PE ratio of -2.55 and a beta of 0.47. The company’s fifty day moving average price is $9.79 and its two-hundred day moving average price is $9.61. Vir Biotechnology has a 52-week low of $7.61 and a 52-week high of $27.48.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The firm had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. During the same quarter in the previous year, the firm posted ($1.06) EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts predict that Vir Biotechnology will post -4.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vir Biotechnology news, EVP Ann M. Hanly sold 2,711 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the completion of the sale, the executive vice president now directly owns 132,069 shares of the company’s stock, valued at approximately $1,327,293.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vir Biotechnology news, EVP Ann M. Hanly sold 2,711 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the completion of the sale, the executive vice president now directly owns 132,069 shares of the company’s stock, valued at approximately $1,327,293.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Backer Marianne De sold 72,995 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The disclosure for this sale can be found here. In the last three months, insiders sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is currently owned by insiders.

Institutional Trading of Vir Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System increased its stake in Vir Biotechnology by 6.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 31,647 shares of the company’s stock worth $297,000 after purchasing an additional 1,894 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Vir Biotechnology by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 861,484 shares of the company’s stock worth $8,072,000 after purchasing an additional 24,492 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vir Biotechnology by 28.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,343 shares of the company’s stock worth $181,000 after purchasing an additional 4,261 shares in the last quarter. Strs Ohio increased its stake in Vir Biotechnology by 24.7% during the 3rd quarter. Strs Ohio now owns 46,000 shares of the company’s stock worth $431,000 after purchasing an additional 9,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Vir Biotechnology by 6.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,706 shares of the company’s stock worth $541,000 after purchasing an additional 3,628 shares in the last quarter. 65.32% of the stock is owned by institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.