Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $34.83 Consensus Target Price from Analysts

Vir Biotechnology, Inc. (NASDAQ:VIR) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $34.83.

A number of research analysts have weighed in on the stock. Leerink Partners boosted their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, January 10th. Barclays cut their target price 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. Finally, Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th.

Insider Transactions at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the company’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 transaction, the director now owns 1,312,391 shares in the company, valued at $16,431,135.32. This represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 14,786 shares of company stock worth $170,172. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after purchasing an additional 606,804 shares during the last quarter. State Street Corp lifted its stake in Vir Biotechnology by 10.4% in the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after acquiring an additional 530,645 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Vir Biotechnology by 19,327.1% in the second quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock valued at $2,671,000 after purchasing an additional 298,603 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in Vir Biotechnology during the second quarter worth approximately $1,780,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Vir Biotechnology by 6,402.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock worth $1,679,000 after buying an additional 185,723 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Trading Up 0.6 %

Shares of NASDAQ:VIR opened at $10.11 on Monday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -2.58 and a beta of 0.51. Vir Biotechnology has a 12 month low of $6.56 and a 12 month high of $14.45. The company has a 50-day moving average price of $8.29 and a 200 day moving average price of $8.40.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Vir Biotechnology’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($1.22) earnings per share. As a group, equities analysts forecast that Vir Biotechnology will post -3.92 EPS for the current year.

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).