HC Wainwright Reiterates Buy Rating for Vir Biotechnology (NASDAQ:VIR)

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $110.00 price objective on the stock.

Several other research firms have also issued reports on VIR. JPMorgan Chase & Co. lifted their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.57.

Vir Biotechnology Price Performance

Shares of VIR opened at $9.54 on Tuesday. The company has a 50-day moving average of $9.73 and a two-hundred day moving average of $9.64. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -2.38 and a beta of 0.47. Vir Biotechnology has a one year low of $7.61 and a one year high of $27.48.

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

Insider Transactions at Vir Biotechnology

In other news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction that occurred 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 in the company, valued at $6,418,203.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ann M. Hanly sold 2,711 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $10.05, for a total transaction of $27,245.55. Following the transaction, the executive vice president now owns 132,069 shares in the company, valued at approximately $1,327,293.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $690,532.70. Following the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at approximately $6,418,203.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Vir Biotechnology by 249.9% in the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after purchasing an additional 1,934 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Vir Biotechnology by 274.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after acquiring an additional 2,177 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Vir Biotechnology by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock valued at $32,000 after acquiring an additional 1,692 shares during the last quarter. Signaturefd LLC increased its position in Vir Biotechnology by 258.5% in the fourth quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock worth $33,000 after purchasing an additional 2,399 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Vir Biotechnology by 69.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock worth $37,000 after purchasing an additional 1,613 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

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.