Vir Biotechnology (NASDAQ:VIR) Trading Up 4.8% – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price was up 4.8% on Tuesday . The stock traded as high as $11.27 and last traded at $11.4620. 293,535 shares were traded during trading, a decline of 88% from the average daily volume of 2,443,843 shares. The stock had previously closed at $10.94.

Analyst Ratings Changes

A number of research analysts have issued reports on VIR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. HC Wainwright restated a “buy” rating on shares of Vir Biotechnology in a research note on Monday, August 10th. Morgan Stanley set a $25.00 price target on Vir Biotechnology in a research report on Thursday, August 6th. Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Leerink Partners increased their price objective on Vir Biotechnology from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.57.

Vir Biotechnology Stock Down 1.1%

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -6.18 and a beta of 1.63. The business’s 50-day moving average is $9.68 and its 200-day moving average is $9.40.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.33 by $0.14. Vir Biotechnology had a negative return on equity of 29.99% and a negative net margin of 638.88%.The firm had revenue of $238.95 million for the quarter, compared to analyst estimates of $135.88 million. During the same period last year, the company earned ($0.80) earnings per share. Vir Biotechnology’s revenue for the quarter was up 19582.5% compared to the same quarter last year. As a group, analysts expect that Vir Biotechnology, Inc. will post -1.84 EPS for the current year.

Institutional Trading of Vir Biotechnology

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Vir Biotechnology by 2,088.4% in the first quarter. AQR Capital Management LLC now owns 268,297 shares of the company’s stock valued at $1,739,000 after buying an additional 256,037 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Vir Biotechnology during the first quarter worth approximately $359,000. Goldman Sachs Group Inc. grew its stake in Vir Biotechnology by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company’s stock valued at $4,813,000 after acquiring an additional 225,544 shares during the period. Woodline Partners LP grew its position in shares of Vir Biotechnology by 245.6% in the first quarter. Woodline Partners LP now owns 466,737 shares of the company’s stock valued at $3,024,000 after purchasing an additional 331,701 shares during the period. Finally, Focus Partners Wealth boosted its holdings in Vir Biotechnology by 15.3% in the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock worth $125,000 after buying an additional 2,566 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.