Vir Biotechnology (NASDAQ:VIR) Given New $12.00 Price Target at JPMorgan Chase & Co.

Vir Biotechnology (NASDAQ:VIR) had its target price boosted by JPMorgan Chase & Co. from $10.00 to $12.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, HC Wainwright reissued a buy rating and set a $110.00 target price on shares of Vir Biotechnology in a report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $33.57.

Vir Biotechnology Trading Up 13.2 %

NASDAQ:VIR opened at $10.39 on Friday. The firm has a fifty day simple moving average of $9.79 and a 200 day simple moving average of $9.61. Vir Biotechnology has a 1-year low of $7.61 and a 1-year high of $27.48. The stock has a market capitalization of $1.40 billion, a PE ratio of -2.59 and a beta of 0.47.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 31.89%. The company had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. During the same period in the previous year, the business earned ($1.06) EPS. Vir Biotechnology’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts predict that Vir Biotechnology will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Backer Marianne De sold 72,995 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the transaction, the chief executive officer now directly owns 678,457 shares in the company, valued at approximately $6,418,203.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Hanly sold 2,711 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.05, for a total transaction of $27,245.55. Following the transaction, the executive vice president now owns 132,069 shares of the company’s stock, valued at $1,327,293.45. The disclosure for this sale can be found here. Insiders sold 152,831 shares of company stock valued at $1,525,844 in the last quarter. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Vir Biotechnology by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock worth $123,709,000 after purchasing an additional 1,096,473 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Vir Biotechnology by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 861,484 shares of the company’s stock valued at $8,072,000 after purchasing an additional 24,492 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Vir Biotechnology by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,073 shares of the company’s stock valued at $7,576,000 after buying an additional 31,405 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Vir Biotechnology by 41.0% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 708,257 shares of the company’s stock worth $6,636,000 after acquiring an additional 205,913 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Vir Biotechnology by 68.5% during the third quarter. Rafferty Asset Management LLC now owns 525,317 shares of the company’s stock valued at $4,922,000 after acquiring an additional 213,477 shares during the last quarter. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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.