Vir Biotechnology’s (VIR) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $110.00 target price on the stock.

Several other research analysts have also recently commented on VIR. Needham & Company LLC reaffirmed a buy rating and set a $15.00 target price on shares of Vir Biotechnology in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on Vir Biotechnology from $10.00 to $12.00 and gave the company a neutral rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $34.14.

Vir Biotechnology Trading Down 6.3 %

Vir Biotechnology stock opened at $11.23 on Wednesday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -2.80 and a beta of 0.50. Vir Biotechnology has a 12 month low of $7.61 and a 12 month high of $27.48. The stock’s 50 day moving average is $9.62 and its 200-day moving average is $9.91.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.51. The firm had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. Vir Biotechnology had a negative return on equity of 32.58% and a negative net margin of 677.69%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.06) EPS. As a group, equities research analysts predict that Vir Biotechnology will post -3.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, CFO Sung Lee sold 6,008 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $9.89, for a total value of $59,419.12. Following the sale, the chief financial officer now directly owns 100,492 shares of the company’s stock, valued at $993,865.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total transaction of $690,532.70. Following the sale, the chief executive officer now owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sung Lee sold 6,008 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $9.89, for a total value of $59,419.12. Following the completion of the transaction, the chief financial officer now owns 100,492 shares of the company’s stock, valued at $993,865.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,714 shares of company stock valued at $777,197. 15.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Vir Biotechnology by 249.9% during the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after acquiring an additional 1,934 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Vir Biotechnology by 274.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after purchasing an additional 2,177 shares during the period. Signaturefd LLC raised its position in Vir Biotechnology by 258.5% during the 4th quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock worth $33,000 after purchasing an additional 2,399 shares during the last quarter. Federated Hermes Inc. acquired a new position in Vir Biotechnology during the 4th quarter worth about $69,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Vir Biotechnology by 99.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,317 shares of the company’s stock valued at $87,000 after buying an additional 4,656 shares during the last quarter. Institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.