Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $34.63 Average PT from Brokerages

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $33.57.

VIR has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Vir Biotechnology in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday.

Vir Biotechnology Trading Down 1.6 %

Shares of NASDAQ:VIR opened at $10.22 on Friday. The stock has a 50-day simple moving average of $9.79 and a 200-day simple moving average 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 released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, topping 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 company had revenue of $56.38 million during the quarter, compared to the consensus estimate of $11.71 million. During the same period in the previous year, the firm earned ($1.06) earnings per share. Vir Biotechnology’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts predict that Vir Biotechnology will post -4.04 earnings per share for the current fiscal year.

Insider Activity

In related news, Director George A. Scangos sold 17,722 shares of Vir Biotechnology stock in a transaction on Monday, February 26th. The shares were sold at an average price of $11.65, for a total value of $206,461.30. Following the completion of the sale, the director now owns 112,989 shares in the company, valued at $1,316,321.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Vir Biotechnology news, EVP Phillip Pang sold 3,321 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.24, for a total transaction of $34,007.04. Following the transaction, the executive vice president now owns 264,679 shares of the company’s stock, valued at approximately $2,710,312.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director George A. Scangos sold 17,722 shares of Vir Biotechnology stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $11.65, for a total value of $206,461.30. Following the completion of the transaction, the director now owns 112,989 shares of the company’s stock, valued at approximately $1,316,321.85. The disclosure for this sale can be found here. In the last three months, insiders sold 152,831 shares of company stock worth $1,525,844. 15.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

Large investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP lifted its holdings in shares of Vir Biotechnology by 1,975.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 207,500 shares of the company’s stock worth $1,944,000 after purchasing an additional 197,500 shares during the last quarter. Barclays PLC boosted its holdings in shares of Vir Biotechnology by 124.6% during the third quarter. Barclays PLC now owns 412,161 shares of the company’s stock valued at $3,863,000 after acquiring an additional 228,634 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of Vir Biotechnology by 582.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 162,128 shares of the company’s stock worth $1,519,000 after acquiring an additional 138,387 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Vir Biotechnology during the third quarter worth about $1,098,000. Finally, Vanguard Group Inc. increased its holdings in shares of Vir Biotechnology by 9.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,200,666 shares of the company’s stock worth $104,950,000 after acquiring an additional 960,302 shares during the period. 65.32% of the stock is currently owned by institutional investors.

About Vir Biotechnology

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.