Vir Biotechnology (NASDAQ:VIR) Price Target Raised to $31.00 at Barclays

Vir Biotechnology (NASDAQ:VIR - Free Report) had its price target raised by Barclays from $26.00 to $31.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on VIR. 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, January 9th. Leerink Partners increased their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, January 13th. Morgan Stanley raised shares of 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, January 9th. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Vir Biotechnology currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.67.

Remove Ads

Vir Biotechnology Stock Up 3.5 %

VIR traded up $0.28 during midday trading on Friday, reaching $8.20. The company had a trading volume of 1,681,235 shares, compared to its average volume of 2,442,124. The business has a 50-day moving average of $9.48 and a two-hundred day moving average of $8.49. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $14.45. The company has a market cap of $1.13 billion, a P/E ratio of -2.09 and a beta of 0.64.

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

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the firm's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction 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 approximately $16,431,135.32. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George A. Scangos sold 10,964 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the transaction, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,859 shares of company stock valued at $326,458. Corporate insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Vir Biotechnology by 29.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,325 shares of the company's stock valued at $1,331,000 after purchasing an additional 40,954 shares during the last quarter. Woodline Partners LP bought a new position in Vir Biotechnology during the fourth quarter valued at $991,000. Two Sigma Advisers LP lifted its position in Vir Biotechnology by 74.8% during the fourth quarter. Two Sigma Advisers LP now owns 74,800 shares of the company's stock valued at $549,000 after purchasing an additional 32,000 shares during the last quarter. Stonepine Capital Management LLC bought a new position in Vir Biotechnology during the fourth quarter valued at $1,205,000. Finally, Sphera Funds Management LTD. lifted its holdings in shares of Vir Biotechnology by 523.4% in the 4th quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company's stock worth $4,271,000 after acquiring an additional 488,500 shares during the last quarter. 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).