Vir Biotechnology (NASDAQ:VIR) Earns "Buy" Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Vir Biotechnology (NASDAQ:VIR - Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $110.00 target price on the stock.

VIR has been the subject of several other reports. Barclays reduced their target price on Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Morgan Stanley upgraded shares of Vir Biotechnology from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $10.00 to $20.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.80.

Vir Biotechnology Price Performance

Shares of NASDAQ VIR traded down $0.38 during trading hours on Friday, hitting $12.10. 6,459,252 shares of the company's stock were exchanged, compared to its average volume of 8,374,553. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.09 and a beta of 0.51. The company's 50-day moving average price is $8.24 and its 200-day moving average price is $8.36. Vir Biotechnology has a 1-year low of $6.56 and a 1-year high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. During the same quarter last year, the firm earned ($1.22) earnings per share. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. On average, research analysts expect that Vir Biotechnology will post -3.36 earnings per share 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 stock was 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 owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 14,786 shares of company stock valued at $170,172. 15.60% of the stock is owned by insiders.

Institutional Trading of Vir Biotechnology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company's stock worth $30,000 after purchasing an additional 2,351 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Vir Biotechnology during the third quarter worth approximately $56,000. Magnetar Financial LLC bought a new stake in shares of Vir Biotechnology during the second quarter worth approximately $95,000. Quest Partners LLC lifted its holdings in Vir Biotechnology by 142.1% in the second quarter. Quest Partners LLC now owns 12,695 shares of the company's stock valued at $113,000 after buying an additional 7,452 shares during the period. Finally, Captrust Financial Advisors bought a new position in Vir Biotechnology in the third quarter valued at approximately $118,000. Institutional investors and hedge funds 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).