Vir Biotechnology (NASDAQ:VIR) Stock Price Up 6.3% – What’s Next?

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) rose 6.3% on Thursday . The stock traded as high as $11.23 and last traded at $11.19. Approximately 759,002 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,620,427 shares. The stock had previously closed at $10.53.

Analyst Ratings Changes

VIR has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Barclays decreased their price objective on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. Leerink Partners increased their price target on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Vir Biotechnology has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Vir Biotechnology Price Performance

The firm has a fifty day simple moving average of $8.46 and a 200 day simple moving average of $8.47. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -2.71 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter last year, the business earned ($1.22) EPS. The business’s revenue was down 9.8% compared to the same quarter last year. Research analysts predict that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Transactions at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the transaction, the director now directly owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 14,786 shares of company stock valued at $170,172. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds have recently bought and sold shares of the stock. abrdn plc purchased a new position in Vir Biotechnology during the fourth quarter worth $2,666,000. China Universal Asset Management Co. Ltd. increased its position in Vir Biotechnology by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 29,202 shares of the company’s stock worth $214,000 after buying an additional 2,922 shares in the last quarter. KBC Group NV increased its position in Vir Biotechnology by 136.5% during the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after buying an additional 5,177 shares in the last quarter. Barclays PLC boosted its holdings in shares of Vir Biotechnology by 1.3% during the third quarter. Barclays PLC now owns 550,186 shares of the company’s stock worth $4,121,000 after purchasing an additional 7,287 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

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).