Vir Biotechnology (NASDAQ:VIR) Price Target Raised to $20.00 at HC Wainwright

Vir Biotechnology (NASDAQ:VIR) had its price objective upped by HC Wainwright from $15.00 to $20.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

VIR has been the topic of several other reports. Morgan Stanley raised their target price on Vir Biotechnology from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Raymond James Financial upgraded Vir Biotechnology from an “outperform” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Tuesday, February 24th. Needham & Company LLC lifted their price objective on Vir Biotechnology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Monday, December 22nd. Finally, Evercore reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Vir Biotechnology in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.44.

Vir Biotechnology Stock Performance

Shares of Vir Biotechnology stock opened at $9.56 on Wednesday. Vir Biotechnology has a 52-week low of $4.16 and a 52-week high of $10.94. The company’s 50 day moving average price is $7.21 and its 200-day moving average price is $6.18. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.03 and a beta of 1.65.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.11. The company had revenue of $64.07 million during the quarter, compared to analyst estimates of $19.91 million. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 49.31%. The firm’s revenue was up 417.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) EPS. As a group, equities research analysts forecast that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Backer Marianne De sold 19,039 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $7.45, for a total transaction of $141,840.55. Following the sale, the chief executive officer owned 1,035,466 shares in the company, valued at approximately $7,714,221.70. This represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Verneuil Vanina De sold 13,700 shares of Vir Biotechnology stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $9.82, for a total transaction of $134,534.00. Following the transaction, the executive vice president directly owned 112,982 shares of the company’s stock, valued at $1,109,483.24. The trade was a 10.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 177,546 shares of company stock valued at $1,522,174. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its stake in Vir Biotechnology by 1.0% in the fourth quarter. Corient Private Wealth LLC now owns 262,211 shares of the company’s stock worth $1,572,000 after purchasing an additional 2,515 shares during the last quarter. Virtus Investment Advisers LLC raised its holdings in shares of Vir Biotechnology by 82.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 39,764 shares of the company’s stock worth $240,000 after buying an additional 17,966 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Vir Biotechnology during the 4th quarter worth approximately $414,000. Polymer Capital Management US LLC purchased a new position in Vir Biotechnology during the 4th quarter valued at $202,000. Finally, Quadrature Capital Ltd bought a new position in Vir Biotechnology in the 4th quarter valued at $300,000. 65.32% of the stock is currently owned by institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.