Vir Biotechnology (NASDAQ:VIR) Stock Price Target Raised at HC Wainwright

Vir Biotechnology (NASDAQ:VIR) had its price objective hoisted by equities research analysts at HC Wainwright from $20.00 to $22.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 90.25% from the company’s previous close.

VIR has been the subject of a number of other research reports. Wall Street Zen raised shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley set a $25.00 target price on shares of Vir Biotechnology in a research note on Thursday, August 6th. Raymond James Financial restated a “strong-buy” rating on shares of Vir Biotechnology in a report on Monday, September 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Friday. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.86.

Vir Biotechnology Trading Down 0.3%

VIR stock traded down $0.04 during mid-day trading on Wednesday, reaching $11.56. 248,558 shares of the stock traded hands, compared to its average volume of 2,413,916. Vir Biotechnology has a 52-week low of $4.82 and a 52-week high of $11.94. The company has a market cap of $1.96 billion, a P/E ratio of -6.19 and a beta of 1.59. The stock’s fifty day moving average is $10.30 and its 200-day moving average is $9.75.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.14. The firm had revenue of $238.95 million during the quarter, compared to analysts’ expectations of $135.88 million. During the same period last year, the business earned ($0.80) earnings per share. The business’s revenue was up 19582.5% on a year-over-year basis. Equities research analysts expect that Vir Biotechnology will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VIR. BlackRock Inc. purchased a new stake in shares of Vir Biotechnology during the second quarter worth $210,712,000. ARCH Venture Management LLC acquired a new stake in Vir Biotechnology during the second quarter valued at $129,353,521. ADAR1 Capital Management LLC purchased a new position in Vir Biotechnology in the first quarter valued at about $24,593,000. Pictet Asset Management Holding SA grew its stake in Vir Biotechnology by 10,878.9% in the first quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company’s stock valued at $13,268,000 after purchasing an additional 1,467,340 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in Vir Biotechnology in the 2nd quarter worth about $11,642,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing treatments and preventive therapies for serious infectious diseases. The company uses immunologic insights, antibody technology, cellular approaches and other scientific platforms to address diseases in which the immune system plays a central role.

Vir’s research and development programs have included therapies for chronic hepatitis B, influenza, human immunodeficiency virus (HIV) and COVID-19. Its pipeline has included investigational antibody and immunomodulatory candidates such as tobevibart and elebsiran for hepatitis B, as well as programs designed to prevent or treat other viral infections.