Vir Biotechnology (NASDAQ:VIR) Given New $14.00 Price Target at JPMorgan Chase & Co.

Vir Biotechnology (NASDAQ:VIR - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $10.00 to $14.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley raised Vir Biotechnology from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $10.00 to $20.00 in a research note on Thursday. HC Wainwright restated a "buy" rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Barclays cut their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Vir Biotechnology has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

Vir Biotechnology Trading Up 58.2 %

Shares of VIR traded up $4.59 during midday trading on Thursday, hitting $12.48. The stock had a trading volume of 39,456,292 shares, compared to its average volume of 8,750,732. The business has a 50-day simple moving average of $8.18 and a two-hundred day simple moving average of $8.34. The firm has a market cap of $1.72 billion, a P/E ratio of -3.18 and a beta of 0.51. Vir Biotechnology has a fifty-two week low of $6.56 and a fifty-two week high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. During the same period in the prior year, the business posted ($1.22) EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts expect that Vir Biotechnology will post -3.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the business's stock in a transaction that occurred 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 14,786 shares of company stock worth $170,172 over the last ninety days. 15.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of 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 acquired a new position 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 in the second quarter valued at approximately $95,000. Quest Partners LLC grew its stake in shares of Vir Biotechnology by 142.1% in the second quarter. Quest Partners LLC now owns 12,695 shares of the company's stock worth $113,000 after acquiring an additional 7,452 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in Vir Biotechnology during the third quarter worth $118,000. Institutional investors own 65.32% of the company's stock.

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).