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

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

Other equities research analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $20.00 in a research report on Thursday. Barclays cut their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. raised 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Vir Biotechnology Price Performance

Shares of NASDAQ VIR opened at $12.48 on Friday. Vir Biotechnology has a one year low of $6.56 and a one year high of $14.45. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -3.18 and a beta of 0.51. The stock’s fifty day moving average price is $8.18 and its two-hundred day moving average price is $8.34.

Vir Biotechnology (NASDAQ:VIR) last released 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). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. During the same quarter last year, the company posted ($1.22) earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that Vir Biotechnology will post -3.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 14,786 shares of company stock worth $170,172 in the last ninety days. 15.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VIR. Rhumbline Advisers grew its holdings in Vir Biotechnology by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 238,504 shares of the company’s stock worth $2,123,000 after acquiring an additional 9,817 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Vir Biotechnology by 41.5% in the second 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 during the period. Los Angeles Capital Management LLC acquired a new stake in Vir Biotechnology in the second quarter valued at $119,000. Quest Partners LLC raised its position 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 lifted its holdings in Vir Biotechnology by 175.2% during the 2nd quarter. Headlands Technologies LLC now owns 32,289 shares of the company’s stock worth $287,000 after buying an additional 20,556 shares during the period. Institutional investors own 65.32% of the company’s stock.

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).