The Goldman Sachs Group Cuts Vir Biotechnology (NASDAQ:VIR) Price Target to $21.00

Vir Biotechnology (NASDAQ:VIR) had its price objective reduced by The Goldman Sachs Group from $28.00 to $21.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms have also commented on VIR. Morgan Stanley raised shares of 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 note on Thursday, January 9th. JPMorgan Chase & Co. lifted their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Leerink Partners increased their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Barclays raised their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.57.

Vir Biotechnology Trading Up 1.3 %

Shares of NASDAQ VIR opened at $5.50 on Thursday. The stock has a market capitalization of $754.29 million, a price-to-earnings ratio of -1.40 and a beta of 1.14. Vir Biotechnology has a 12-month low of $4.95 and a 12-month high of $14.45. The firm’s 50-day moving average price is $7.33 and its 200-day moving average price is $8.12.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.09. The business had revenue of $12.37 million during the quarter, compared to analyst estimates 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 analysts predict that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total value of $67,389.22. Following the completion of the sale, the executive vice president now owns 79,460 shares in the company, valued at approximately $726,264.40. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the transaction, the chief executive officer now owns 769,505 shares in the company, valued at approximately $4,578,554.75. This represents a 9.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,611 shares of company stock worth $663,525 in the last ninety days. 15.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC bought a new position in Vir Biotechnology in the first quarter worth about $78,000. GAMMA Investing LLC lifted its position in Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company’s stock valued at $46,000 after acquiring an additional 5,972 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Vir Biotechnology by 29.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,325 shares of the company’s stock valued at $1,331,000 after acquiring an additional 40,954 shares in the last quarter. Woodline Partners LP purchased a new position in Vir Biotechnology in the fourth quarter worth $991,000. Finally, Two Sigma Advisers LP increased its position in shares of Vir Biotechnology by 74.8% during the fourth quarter. Two Sigma Advisers LP now owns 74,800 shares of the company’s stock worth $549,000 after purchasing an additional 32,000 shares in the last quarter. 65.32% of the stock is owned by 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).