Vir Biotechnology (NASDAQ:VIR) Trading 7.1% Higher - Here's Why

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report)'s stock price rose 7.1% during mid-day trading on Monday . The company traded as high as $8.03 and last traded at $8.03. Approximately 140,410 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 442,614 shares. The stock had previously closed at $7.50.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VIR. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. HC Wainwright reissued a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Barclays lowered their price target on Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.40.

Vir Biotechnology Stock Up 6.0 %

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -2.03 and a beta of 0.51. The company's 50-day moving average is $7.97 and its 200-day moving average is $8.30.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its earnings results 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). The company had revenue of $2.38 million during 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 company's quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($1.22) earnings per share. On average, research analysts forecast that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current year.

Institutional Investors Weigh In On Vir Biotechnology

Large investors have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company's stock worth $30,000 after buying an additional 2,351 shares during the last quarter. nVerses Capital LLC bought a new stake in Vir Biotechnology during the 3rd quarter worth approximately $56,000. Magnetar Financial LLC bought a new stake in Vir Biotechnology during the 2nd quarter worth approximately $95,000. Quest Partners LLC increased its holdings in Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company's stock valued at $113,000 after purchasing an additional 7,452 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Vir Biotechnology in the 3rd quarter valued at $118,000. 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).