Vir Biotechnology (NASDAQ:VIR) Raised to Moderate Buy at Raymond James Financial

Vir Biotechnology (NASDAQ:VIR) was upgraded by Raymond James Financial to a “moderate buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a $12.00 price objective on the stock. Raymond James Financial’s price target suggests a potential upside of 112.39% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. The Goldman Sachs Group cut 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. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Vir Biotechnology in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Vir Biotechnology Stock Performance

Shares of VIR opened at $5.65 on Friday. Vir Biotechnology has a fifty-two week low of $4.32 and a fifty-two week high of $14.45. The stock has a market capitalization of $781.06 million, a PE ratio of -1.34 and a beta of 1.22. The company’s fifty day moving average is $5.16 and its 200 day moving average is $7.02.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.05). The business had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $8.59 million. Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The firm’s revenue was down 94.6% compared to the same quarter last year. During the same period last year, the company earned ($0.48) earnings per share. As a group, research analysts forecast that Vir Biotechnology will post -3.92 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total value of $112,200.00. Following the transaction, the director directly owned 1,298,391 shares of the company’s stock, valued at $6,621,794.10. The trade was a 1.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of VIR. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vir Biotechnology by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,252,655 shares of the company’s stock valued at $9,194,000 after buying an additional 118,379 shares during the period. Victory Capital Management Inc. increased its position in Vir Biotechnology by 9.2% in the 4th quarter. Victory Capital Management Inc. now owns 88,776 shares of the company’s stock worth $652,000 after purchasing an additional 7,507 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Vir Biotechnology by 31.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock worth $61,000 after purchasing an additional 1,999 shares during the last quarter. Amundi boosted its stake in shares of Vir Biotechnology by 224.3% during the 4th quarter. Amundi now owns 46,614 shares of the company’s stock worth $342,000 after acquiring an additional 32,241 shares in the last quarter. Finally, Tejara Capital Ltd bought a new stake in shares of Vir Biotechnology during the 4th quarter worth about $381,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).