HC Wainwright Reiterates Buy Rating for Vir Biotechnology (NASDAQ:VIR)

HC Wainwright reissued their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a report issued on Friday morning,Benzinga reports. HC Wainwright currently has a $110.00 target price on the stock.

VIR has been the topic of several other research reports. Morgan Stanley raised 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. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays cut their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Vir Biotechnology Stock Down 3.0 %

Shares of NASDAQ:VIR opened at $12.10 on Friday. Vir Biotechnology has a 52-week low of $6.56 and a 52-week high of $14.45. The stock has a market cap of $1.67 billion, a P/E ratio of -3.09 and a beta of 0.51. The business has a fifty day moving average of $8.24 and a two-hundred day moving average of $8.36.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same period in the prior year, the company posted ($1.22) EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Vir Biotechnology will post -3.36 earnings per share for the current year.

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 14,786 shares of company stock worth $170,172. 15.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIR. Blue Trust Inc. raised its stake in shares of Vir Biotechnology by 143.5% in the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after acquiring an additional 2,351 shares in the last quarter. nVerses Capital LLC purchased a new stake in Vir Biotechnology during the 3rd quarter worth about $56,000. Magnetar Financial LLC acquired a new stake in Vir Biotechnology in the 2nd quarter valued at about $95,000. Quest Partners LLC grew its position in shares of Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after buying an additional 7,452 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Vir Biotechnology during the third quarter worth about $118,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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).