Brokerages Set Vir Biotechnology, Inc. (NASDAQ:VIR) PT at $33.00

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $33.00.

Several research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, June 5th. Morgan Stanley increased their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Barclays lifted their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC lifted their price target on Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th.

Vir Biotechnology Price Performance

NASDAQ VIR opened at $8.62 on Monday. The company’s 50 day simple moving average is $9.36 and its two-hundred day simple moving average is $9.73. Vir Biotechnology has a 1 year low of $7.61 and a 1 year high of $13.27. The stock has a market capitalization of $1.17 billion, a PE ratio of -2.15 and a beta of 0.48.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.13). Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.93%. The business had revenue of $3.08 million for the quarter, compared to the consensus estimate of $7.53 million. During the same period in the prior year, the business posted ($1.45) EPS. Vir Biotechnology’s quarterly revenue was down 19.0% on a year-over-year basis. On average, research analysts anticipate that Vir Biotechnology will post -3.26 EPS for the current year.

Insider Buying and Selling

In other news, Director Saira Ramasastry sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $10.95, for a total value of $43,800.00. Following the completion of the sale, the director now owns 14,619 shares of the company’s stock, valued at approximately $160,078.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VIR. Arizona State Retirement System grew its stake in shares of Vir Biotechnology by 6.0% in the fourth quarter. Arizona State Retirement System now owns 26,271 shares of the company’s stock worth $264,000 after purchasing an additional 1,476 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Vir Biotechnology in the 4th quarter worth approximately $1,800,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Vir Biotechnology by 268.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,902 shares of the company’s stock valued at $2,142,000 after buying an additional 155,196 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Vir Biotechnology during the fourth quarter valued at approximately $110,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Vir Biotechnology in the fourth quarter worth $434,000. 65.32% of the stock is owned by hedge funds and other 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.