Vir Biotechnology’s (VIR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $110.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a buy rating and set a $15.00 target price on shares of Vir Biotechnology in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on Vir Biotechnology from $10.00 to $12.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $33.57.

Vir Biotechnology Price Performance

NASDAQ VIR opened at $9.93 on Tuesday. The firm has a market cap of $1.34 billion, a P/E ratio of -2.48 and a beta of 0.47. The stock’s 50-day moving average is $9.76 and its two-hundred day moving average is $9.63. Vir Biotechnology has a fifty-two week low of $7.61 and a fifty-two week high of $27.48.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.51. The business had revenue of $56.38 million during the quarter, compared to analysts’ expectations of $11.71 million. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. Vir Biotechnology’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.06) earnings per share. On average, equities analysts expect that Vir Biotechnology will post -4.04 EPS for the current year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. In other 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 value of $690,532.70. Following the completion of the transaction, the chief executive officer now owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sung Lee sold 6,008 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $993,865.88. The disclosure for this sale can be found here. Insiders have sold 152,831 shares of company stock worth $1,525,844 over the last ninety days. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Vir Biotechnology during the first quarter worth $119,000. Empowered Funds LLC boosted its stake in shares of Vir Biotechnology by 8.2% during the 1st quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock worth $4,640,000 after acquiring an additional 34,640 shares during the period. Duality Advisers LP increased its holdings in shares of Vir Biotechnology by 6.7% during the 1st quarter. Duality Advisers LP now owns 101,479 shares of the company’s stock worth $1,028,000 after acquiring an additional 6,331 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Vir Biotechnology by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 74,977 shares of the company’s stock valued at $760,000 after acquiring an additional 1,012 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Vir Biotechnology by 58.7% in the first quarter. Nordea Investment Management AB now owns 235,664 shares of the company’s stock valued at $2,408,000 after purchasing an additional 87,190 shares during the period. 65.32% of the stock is owned by institutional investors.

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.