Vir Biotechnology (NASDAQ:VIR) Price Target Raised to $12.00

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

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

Vir Biotechnology Trading Up 13.2 %

VIR stock opened at $10.39 on Friday. The firm has a 50 day moving average of $9.79 and a 200-day moving average of $9.61. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -2.59 and a beta of 0.47. Vir Biotechnology has a 12-month low of $7.61 and a 12-month 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 (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.51. The firm had revenue of $56.38 million during the quarter, compared to analysts’ expectations of $11.71 million. Vir Biotechnology had a negative return on equity of 31.89% and a negative net margin of 677.69%. Vir Biotechnology’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.06) earnings per share. Sell-side analysts forecast 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, Director George A. Scangos sold 10,878 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.24, for a total value of $111,390.72. Following the sale, the director now directly owns 157,611 shares of the company’s stock, valued at approximately $1,613,936.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director George A. Scangos sold 10,878 shares of Vir Biotechnology stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.24, for a total value of $111,390.72. Following the transaction, the director now directly owns 157,611 shares of the company’s stock, valued at approximately $1,613,936.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The disclosure for this sale can be found here. In the last three months, insiders sold 152,831 shares of company stock worth $1,525,844. Insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Vir Biotechnology by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock valued at $123,709,000 after purchasing an additional 1,096,473 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Vir Biotechnology by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 861,484 shares of the company’s stock worth $8,072,000 after buying an additional 24,492 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 31,405 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Vir Biotechnology by 41.0% during the third quarter. Jupiter Asset Management Ltd. now owns 708,257 shares of the company’s stock worth $6,636,000 after purchasing an additional 205,913 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its holdings 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 worth $4,922,000 after purchasing an additional 213,477 shares during the period. 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.