Vir Biotechnology (NASDAQ:VIR) Upgraded by Morgan Stanley to "Overweight" Rating

Vir Biotechnology (NASDAQ:VIR - Get Free Report) was upgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report issued on Thursday,Benzinga reports. The brokerage presently has a $20.00 price target on the stock, up from their previous price target of $10.00. Morgan Stanley's price objective indicates a potential upside of 60.26% from the stock's previous close.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays reduced their price target 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. Finally, HC Wainwright restated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.80.

Vir Biotechnology Trading Up 58.2 %

Shares of NASDAQ VIR traded up $4.59 on Thursday, reaching $12.48. 39,456,292 shares of the company traded hands, compared to its average volume of 8,750,732. The stock has a market capitalization of $1.72 billion, a PE 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. The company has a 50 day moving average of $8.18 and a 200 day moving average of $8.34.

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 the consensus estimate of ($1.05) by ($0.51). The company had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company posted ($1.22) EPS. As a group, research analysts expect that Vir Biotechnology will post -3.36 earnings per share for the current 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 dated 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 sale, the director now owns 1,312,391 shares of the company's stock, valued at $16,431,135.32. This represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 14,786 shares of company stock worth $170,172 in the last ninety days. 15.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Vir Biotechnology by 0.8% during the second 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 during the last quarter. Rhumbline Advisers increased its stake in shares of Vir Biotechnology by 4.3% in the second quarter. Rhumbline Advisers now owns 238,504 shares of the company's stock valued at $2,123,000 after purchasing an additional 9,817 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Vir Biotechnology by 41.5% during the second quarter. Victory Capital Management Inc. now owns 65,573 shares of the company's stock valued at $584,000 after buying an additional 19,216 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Vir Biotechnology during the second quarter valued at approximately $119,000. Finally, Quest Partners LLC boosted its position in shares of Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company's stock worth $113,000 after buying an additional 7,452 shares during the period. 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).