JPMorgan Chase & Co. Increases Vir Biotechnology (NASDAQ:VIR) Price Target to $12.00

Vir Biotechnology (NASDAQ:VIR) had its price target raised by JPMorgan Chase & Co. from $10.00 to $12.00 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, HC Wainwright reiterated a buy rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology has a consensus rating of Moderate Buy and a consensus price target of $33.57.

Vir Biotechnology Stock Performance

Shares of NASDAQ:VIR opened at $10.22 on Friday. The company has a 50 day moving average price of $9.79 and a 200 day moving average price of $9.61. Vir Biotechnology has a 1-year low of $7.61 and a 1-year high of $27.48.

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

Insider Transactions at Vir Biotechnology

In other news, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vir Biotechnology news, Director George A. Scangos sold 17,722 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $11.65, for a total transaction of $206,461.30. Following the transaction, the director now directly owns 112,989 shares of the company’s stock, valued at $1,316,321.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is owned by insiders.

Institutional Trading of Vir Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Vir Biotechnology by 249.9% in the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $27,000 after buying an additional 1,934 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Vir Biotechnology by 274.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock worth $30,000 after acquiring an additional 2,177 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Vir Biotechnology by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock worth $32,000 after acquiring an additional 1,692 shares during the period. Signaturefd LLC raised its stake in Vir Biotechnology by 258.5% during the 4th quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock valued at $33,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Vir Biotechnology by 69.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock valued at $37,000 after purchasing an additional 1,613 shares during the period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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.