Analysts Set Vir Biotechnology, Inc. (NASDAQ:VIR) Price Target at $34.83

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $34.83.

VIR has been the topic of a number of analyst reports. Barclays lowered their price objective on Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. HC Wainwright reissued a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday. Morgan Stanley upgraded shares of Vir Biotechnology from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $10.00 to $20.00 in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. Finally, Leerink Partners raised their price target on Vir Biotechnology from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Monday.

Vir Biotechnology Price Performance

Vir Biotechnology stock traded down $1.58 during midday trading on Monday, reaching $10.52. 4,554,022 shares of the company traded hands, compared to its average volume of 7,829,243. Vir Biotechnology has a 12 month low of $6.56 and a 12 month high of $14.45. The business has a 50 day moving average of $8.24 and a two-hundred day moving average of $8.35. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -2.68 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.51). The firm had revenue of $2.38 million during the quarter, compared to analysts' expectations of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned ($1.22) earnings per share. As a group, equities analysts forecast that Vir Biotechnology will post -3.36 EPS for the current year.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the transaction, the director now directly owns 1,312,391 shares of the company's stock, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 14,786 shares of company stock valued at $170,172. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIR. Barclays PLC increased its position in Vir Biotechnology by 1.3% during the third quarter. Barclays PLC now owns 550,186 shares of the company's stock valued at $4,121,000 after acquiring an additional 7,287 shares during the last quarter. State Street Corp grew its holdings in Vir Biotechnology by 10.4% during the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company's stock valued at $42,135,000 after purchasing an additional 530,645 shares during the last quarter. Quarry LP raised its position in Vir Biotechnology by 901.8% in the 3rd quarter. Quarry LP now owns 17,000 shares of the company's stock worth $127,000 after purchasing an additional 15,303 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Vir Biotechnology by 10.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 350,265 shares of the company's stock worth $2,623,000 after purchasing an additional 33,473 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Vir Biotechnology during the third quarter valued at approximately $217,000. Hedge funds and other institutional investors own 65.32% of the company's stock.

Vir Biotechnology Company Profile

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).