Morgan Stanley Raises Vir Biotechnology (NASDAQ:VIR) Price Target to $27.00

Vir Biotechnology (NASDAQ:VIR) had its price target hoisted by investment analysts at Morgan Stanley from $23.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 227.27% from the stock’s current price.

A number of other research firms also recently weighed in on VIR. HC Wainwright increased their price target on Vir Biotechnology from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Raymond James Financial raised Vir Biotechnology from an “outperform” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, February 24th. Leerink Partners increased their price target on Vir Biotechnology from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Needham & Company LLC increased their price target on Vir Biotechnology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Evercore reissued an “outperform” rating and issued a $18.00 price target on shares of Vir Biotechnology in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.88.

Vir Biotechnology Price Performance

NASDAQ VIR opened at $8.25 on Thursday. The firm has a market cap of $1.39 billion, a PE ratio of -2.64 and a beta of 1.65. Vir Biotechnology has a one year low of $4.16 and a one year high of $11.66. The stock’s 50 day simple moving average is $9.48 and its 200 day simple moving average is $8.11.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.84). The firm had revenue of ($0.03) million during the quarter, compared to the consensus estimate of $55.49 million. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 53.31%. During the same quarter in the previous year, the business posted ($0.88) earnings per share. As a group, equities analysts expect that Vir Biotechnology will post -1.81 earnings per share for the current year.

Insider Transactions at Vir Biotechnology

In other news, Director Janet Napolitano sold 3,200 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $9.45, for a total value of $30,240.00. Following the completion of the transaction, the director owned 21,216 shares in the company, valued at $200,491.20. This trade represents a 13.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Backer Marianne De sold 72,559 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $9.16, for a total value of $664,640.44. Following the completion of the transaction, the chief executive officer owned 948,145 shares of the company’s stock, valued at $8,685,008.20. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 127,849 shares of company stock worth $1,189,426. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of VIR. AQR Capital Management LLC grew its holdings in Vir Biotechnology by 2,088.4% during the first quarter. AQR Capital Management LLC now owns 268,297 shares of the company’s stock worth $1,739,000 after purchasing an additional 256,037 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Vir Biotechnology during the first quarter worth about $359,000. Goldman Sachs Group Inc. grew its holdings in Vir Biotechnology by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company’s stock worth $4,813,000 after purchasing an additional 225,544 shares during the period. Woodline Partners LP grew its holdings in Vir Biotechnology by 245.6% during the first quarter. Woodline Partners LP now owns 466,737 shares of the company’s stock worth $3,024,000 after purchasing an additional 331,701 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of Vir Biotechnology by 15.3% during the first quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock worth $125,000 after acquiring an additional 2,566 shares during the period. Institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

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.