Vir Biotechnology (NASDAQ:VIR) Sets New 52-Week High - Here's Why

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $14.45 and last traded at $12.48, with a volume of 39456292 shares traded. The stock had previously closed at $7.89.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VIR shares. Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday. Morgan Stanley upgraded 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 note on Thursday. HC Wainwright reiterated a "buy" rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Barclays cut their price target on Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

Vir Biotechnology Trading Up 58.2 %

The firm's 50-day simple moving average is $8.18 and its 200 day simple moving average is $8.34. The stock has a market cap of $1.72 billion, a P/E ratio of -3.18 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $5.54 million. During the same period last year, the company earned ($1.22) earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. On average, analysts anticipate that Vir Biotechnology, Inc. will post -3.36 EPS for the current year.

Insider Activity at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of the company's 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 sale, the director now owns 1,312,391 shares in the company, valued at $16,431,135.32. This represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 14,786 shares of company stock worth $170,172 over the last ninety days. 15.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of VIR. Bank of New York Mellon Corp boosted its stake in shares of Vir Biotechnology by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company's stock worth $7,238,000 after acquiring an additional 6,359 shares in the last quarter. Rhumbline Advisers increased its stake in Vir Biotechnology by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 238,504 shares of the company's stock worth $2,123,000 after purchasing an additional 9,817 shares in the last quarter. Victory Capital Management Inc. increased its stake in Vir Biotechnology by 41.5% in the 2nd quarter. Victory Capital Management Inc. now owns 65,573 shares of the company's stock worth $584,000 after purchasing an additional 19,216 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Vir Biotechnology during the second quarter valued at about $119,000. Finally, Quest Partners LLC lifted its stake in Vir Biotechnology by 142.1% during 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 in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

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).