Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $35.67 Average Price Target from Analysts

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.67.

Several brokerages have recently commented on VIR. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. Leerink Partners lifted their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a report on Thursday, February 27th. Finally, Barclays increased their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, February 28th.

Insiders Place Their Bets

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the sale, the director now owns 708,295 shares in the company, valued at $6,948,373.95. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Backer Marianne De sold 79,712 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the completion of the sale, the chief executive officer now directly owns 769,505 shares in the company, valued at approximately $4,578,554.75. The trade was a 9.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,571 shares of company stock valued at $800,744 over the last quarter. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vir Biotechnology in the fourth quarter worth $42,000. SBI Securities Co. Ltd. acquired a new position in shares of Vir Biotechnology in the 4th quarter valued at $60,000. PNC Financial Services Group Inc. increased its stake in shares of Vir Biotechnology by 31.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company’s stock valued at $61,000 after acquiring an additional 1,999 shares during the last quarter. KBC Group NV raised its holdings in Vir Biotechnology by 136.5% in the fourth quarter. KBC Group NV now owns 8,970 shares of the company’s stock worth $66,000 after purchasing an additional 5,177 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of Vir Biotechnology during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

Vir Biotechnology Stock Performance

Shares of NASDAQ:VIR opened at $5.58 on Friday. Vir Biotechnology has a 1 year low of $5.49 and a 1 year high of $14.45. The stock has a 50-day simple moving average of $8.36 and a 200-day simple moving average of $8.29. The stock has a market capitalization of $765.26 million, a P/E ratio of -1.42 and a beta of 1.14.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.09. The firm had revenue of $12.37 million for the quarter, compared to the consensus estimate of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Analysts predict that Vir Biotechnology will post -3.92 earnings per share for the current year.

Vir Biotechnology Company Profile

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).