Vir Biotechnology's (VIR) Buy Rating Reiterated at Needham & Company LLC

Vir Biotechnology (NASDAQ:VIR - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $19.00 target price on the stock. Needham & Company LLC's price target indicates a potential upside of 139.90% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Leerink Partners lifted their target price on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. 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. JPMorgan Chase & Co. increased their target price on Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, January 9th. HC Wainwright reissued a "buy" rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, January 31st. Finally, Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.67.

Remove Ads

Vir Biotechnology Price Performance

Shares of VIR stock traded down $0.47 during trading hours on Thursday, reaching $7.92. 1,233,361 shares of the company traded hands, compared to its average volume of 2,464,104. The firm has a 50-day moving average price of $9.46 and a 200 day moving average price of $8.50. The company has a market cap of $1.09 billion, a P/E ratio of -2.02 and a beta of 0.64. Vir Biotechnology has a 12-month low of $6.56 and a 12-month high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, topping analysts' consensus estimates of ($0.85) by $0.09. The company had revenue of $12.37 million for the quarter, compared to analysts' expectations of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Sell-side analysts predict that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Buying and Selling

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares of the company's stock, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the completion of the sale, the executive vice president now owns 79,460 shares in the company, valued at approximately $726,264.40. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,859 shares of company stock worth $326,458. Corporate insiders own 15.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company's stock valued at $30,000 after purchasing an additional 2,351 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vir Biotechnology during the 4th quarter valued at approximately $42,000. SBI Securities Co. Ltd. purchased a new stake in Vir Biotechnology during the 4th quarter valued at $60,000. PNC Financial Services Group Inc. lifted its position in Vir Biotechnology by 31.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock worth $61,000 after buying an additional 1,999 shares during the last quarter. Finally, KBC Group NV lifted its position in Vir Biotechnology by 136.5% in the fourth quarter. KBC Group NV now owns 8,970 shares of the company's stock worth $66,000 after buying an additional 5,177 shares during the last quarter. 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).