Vir Biotechnology (NASDAQ:VIR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $19.00 target price on the stock.

A number of other research firms have also issued reports on VIR. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Friday, January 31st. Barclays decreased their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Leerink Partners lifted their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Finally, Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Vir Biotechnology Trading Down 11.8 %

NASDAQ:VIR opened at $8.11 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of -2.07 and a beta of 0.63. The stock has a fifty day moving average price of $9.44 and a 200 day moving average price of $8.50. Vir Biotechnology has a 12-month low of $6.56 and a 12-month high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09. The firm had revenue of $12.37 million during the quarter, compared to analyst estimates of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Equities analysts forecast that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Transactions at Vir Biotechnology

In related news, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total value of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares in the company, valued at $726,264.40. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George A. Scangos sold 10,964 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the transaction, the director now owns 708,295 shares in the company, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,935 shares of company stock worth $327,082. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIR. Blue Trust Inc. increased its position in Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vir Biotechnology during the 4th quarter worth approximately $42,000. SBI Securities Co. Ltd. purchased a new stake in shares of Vir Biotechnology during the 4th quarter worth approximately $60,000. PNC Financial Services Group Inc. boosted its stake in shares of Vir Biotechnology by 31.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock worth $61,000 after acquiring an additional 1,999 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Vir Biotechnology by 136.5% during the 4th quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after acquiring an additional 5,177 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

About Vir Biotechnology

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).