Analysts Set Vir Biotechnology, Inc. (NASDAQ:VIR) Target Price at $32.86

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $32.86.

VIR has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th. Barclays increased their target price on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd.

Vir Biotechnology Trading Up 2.2%

Shares of NASDAQ:VIR opened at $5.21 on Thursday. The firm has a 50 day moving average of $5.31 and a 200-day moving average of $7.31. Vir Biotechnology has a 12 month low of $4.32 and a 12 month high of $14.45. The stock has a market capitalization of $720.23 million, a PE ratio of -1.23 and a beta of 1.24.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The business had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. During the same quarter in the previous year, the company earned ($0.48) earnings per share. The firm’s revenue for the quarter was down 94.6% on a year-over-year basis. On average, research analysts predict that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Backer Marianne De sold 79,712 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value 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. The trade was a 9.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.00% of the company’s stock.

Institutional Trading of Vir Biotechnology

Large investors have recently bought and sold shares of the business. Baker BROS. Advisors LP acquired a new position in shares of Vir Biotechnology during the fourth quarter worth approximately $7,961,000. Artisan Partners Limited Partnership bought a new position in Vir Biotechnology during the fourth quarter valued at $6,742,000. Point72 Asset Management L.P. increased its holdings in Vir Biotechnology by 16,169.5% in the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company’s stock worth $6,228,000 after acquiring an additional 843,239 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Vir Biotechnology by 58.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock valued at $14,059,000 after buying an additional 703,360 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Vir Biotechnology by 55.3% in the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock worth $12,589,000 after acquiring an additional 610,367 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, 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).