Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $17.30 Consensus Price Target from Analysts

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.30.

VIR has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Vir Biotechnology in a research note on Wednesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a report on Monday, September 15th. Bank of America upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th. Finally, Evercore ISI began coverage on Vir Biotechnology in a research report on Wednesday, September 3rd. They set an “outperform” rating and a $12.00 target price on the stock.

Vir Biotechnology Price Performance

VIR opened at $5.63 on Friday. The firm has a market capitalization of $783.27 million, a PE ratio of -1.56 and a beta of 1.27. The business’s 50-day moving average is $5.58 and its two-hundred day moving average is $5.28. Vir Biotechnology has a 1 year low of $4.16 and a 1 year high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.47). Vir Biotechnology had a negative net margin of 2,963.54% and a negative return on equity of 50.76%. The firm had revenue of $0.24 million during the quarter, compared to the consensus estimate of $1.98 million. During the same quarter in the prior year, the business posted ($1.56) earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts expect that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Activity at Vir Biotechnology

In related news, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $6.05, for a total value of $2,820,764.10. Following the completion of the sale, the insider directly owned 15,621,369 shares in the company, valued at $94,509,282.45. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 2,179,808 shares of company stock valued at $12,964,713. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Vir Biotechnology during the 2nd quarter valued at approximately $35,000. Federated Hermes Inc. raised its holdings in shares of Vir Biotechnology by 153.8% during the third quarter. Federated Hermes Inc. now owns 8,085 shares of the company’s stock worth $46,000 after purchasing an additional 4,899 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in Vir Biotechnology during the second quarter valued at $50,000. Daiwa Securities Group Inc. boosted its holdings in Vir Biotechnology by 2,200.6% in the second quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company’s stock valued at $62,000 after purchasing an additional 11,773 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Vir Biotechnology during the 2nd quarter worth about $63,000. 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).