Vir Biotechnology, Inc. (NASDAQ:VIR) Given Average Recommendation of "Moderate Buy" by Analysts

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $33.57.

VIR has been the topic of a number of recent analyst reports. Leerink Partners increased their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. HC Wainwright reissued a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th. Barclays upped their price target on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, January 9th. Finally, Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th.

Vir Biotechnology Stock Up 3.4 %

NASDAQ VIR opened at $5.80 on Wednesday. The company has a market cap of $795.43 million, a PE ratio of -1.48 and a beta of 1.14. Vir Biotechnology has a 52 week low of $4.95 and a 52 week high of $14.45. The firm's 50-day simple moving average is $7.11 and its two-hundred day simple moving average is $8.08.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.09. The company had revenue of $12.37 million during the quarter, compared to analysts' expectations of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. As a group, equities research analysts anticipate that Vir Biotechnology will post -3.92 EPS for the current year.

Insiders Place Their Bets

In other news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total value of $107,556.84. Following the transaction, the director now owns 708,295 shares in the company, valued at approximately $6,948,373.95. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the sale, the chief executive officer now owns 769,505 shares of the company's stock, valued at $4,578,554.75. This represents a 9.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,611 shares of company stock valued at $663,525 over the last 90 days. Insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently bought and sold shares of the stock. State of Tennessee Department of Treasury grew its holdings in shares of Vir Biotechnology by 3.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company's stock worth $288,000 after purchasing an additional 1,227 shares during the last quarter. Rhumbline Advisers grew its holdings in Vir Biotechnology by 0.5% in the 4th quarter. Rhumbline Advisers now owns 236,681 shares of the company's stock worth $1,737,000 after acquiring an additional 1,288 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Vir Biotechnology by 31.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock valued at $61,000 after acquiring an additional 1,999 shares during the period. Teacher Retirement System of Texas increased its position in shares of Vir Biotechnology by 10.7% in the fourth quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company's stock valued at $194,000 after acquiring an additional 2,556 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Vir Biotechnology by 0.6% during the fourth quarter. Invesco Ltd. now owns 398,772 shares of the company's stock valued at $2,927,000 after acquiring an additional 2,574 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

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).

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