Vir Biotechnology (NASDAQ:VIR) Hits New 1-Year High – Time to Buy?

Vir Biotechnology, Inc. (NASDAQ:VIR) reached a new 52-week high on Thursday. The stock traded as high as $12.19 and last traded at $11.86, with a volume of 293,090 shares changing hands. The stock had previously closed at $11.93.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VIR shares. Wall Street Zen upgraded Vir Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Friday, October 2nd. Morgan Stanley set a $25.00 price objective on Vir Biotechnology in a report on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Vir Biotechnology in a research note on Monday, September 28th. Finally, HC Wainwright upped their target price on shares of Vir Biotechnology from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Vir Biotechnology Trading Down 3.8%

The firm has a fifty day moving average price of $10.94 and a 200 day moving average price of $9.49. The firm has a market cap of $1.91 billion, a PE ratio of -6.08 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted ($0.80) EPS. The company’s revenue for the quarter was up 19582.5% compared to the same quarter last year. As a group, equities analysts predict that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VIR. BlackRock Inc. purchased a new stake in Vir Biotechnology in the 2nd quarter valued at about $210,712,000. ARCH Venture Management LLC purchased a new position in Vir Biotechnology during the second quarter worth about $129,353,521. ADAR1 Capital Management LLC purchased a new position in Vir Biotechnology during the second quarter worth about $25,034,000. Dimensional Fund Advisors LP increased its position in shares of Vir Biotechnology by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,579,678 shares of the company’s stock valued at $23,107,000 after acquiring an additional 43,401 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of Vir Biotechnology by 10,878.9% during 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 acquiring an additional 1,467,340 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir’s research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.