Brokerages Set Vir Biotechnology, Inc. (NASDAQ:VIR) Price Target at $32.86

Vir Biotechnology, Inc. (NASDAQ:VIR) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $32.86.

A number of equities research analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, February 28th. Needham & Company LLC cut their price objective on Vir Biotechnology from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, May 12th. The Goldman Sachs Group cut their price objective on Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. 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.

Vir Biotechnology Price Performance

VIR opened at $4.73 on Friday. The company has a market capitalization of $653.87 million, a price-to-earnings ratio of -1.21 and a beta of 1.36. Vir Biotechnology has a 1-year low of $4.32 and a 1-year high of $14.45. The business has a 50 day moving average price of $5.87 and a two-hundred day moving average price of $7.78.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm had revenue of $3.03 million during the quarter, compared to analyst estimates of $8.59 million. During the same quarter last year, the company earned ($0.48) earnings per share. The business’s revenue for the quarter was down 94.6% on a year-over-year basis. Equities analysts expect that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insider Activity

In other news, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the completion of the sale, the chief executive officer now directly owns 769,505 shares of the company’s stock, valued at $4,578,554.75. This represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Verneuil Vanina De sold 7,373 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the completion of the sale, the executive vice president now directly owns 79,460 shares of the company’s stock, valued at $726,264.40. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Vir Biotechnology by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,196,601 shares of the company’s stock worth $16,127,000 after acquiring an additional 7,827 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Vir Biotechnology by 58.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock worth $14,059,000 after acquiring an additional 703,360 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Vir Biotechnology by 55.3% during the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock worth $12,589,000 after acquiring an additional 610,367 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Vir Biotechnology by 9.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,374,874 shares of the company’s stock worth $8,909,000 after buying an additional 122,219 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Vir Biotechnology by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,237,600 shares of the company’s stock worth $9,084,000 after buying an additional 55,300 shares during the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).