Vir Biotechnology (NASDAQ:VIR) Research Coverage Started at Evercore ISI

Evercore ISI assumed coverage on shares of Vir Biotechnology (NASDAQ:VIR) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage issued an outperform rating and a $12.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Bank of America upgraded Vir Biotechnology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.00 to $14.00 in a report on Wednesday, August 27th. Finally, Raymond James Financial assumed coverage on Vir Biotechnology in a report on Friday, July 11th. They set an “outperform” rating for the company. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.80.

Vir Biotechnology Trading Up 2.5%

Vir Biotechnology stock opened at $5.27 on Wednesday. The company has a market capitalization of $732.11 million, a price-to-earnings ratio of -1.32 and a beta of 1.28. Vir Biotechnology has a 12 month low of $4.16 and a 12 month high of $14.45. The stock’s 50 day moving average is $5.09 and its 200-day moving average is $5.75.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). The company had revenue of $1.21 million for the quarter, compared to analyst estimates of $2.38 million. Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The company’s quarterly revenue was down 60.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.02) EPS. As a group, equities research analysts predict that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Activity at Vir Biotechnology

In other news, EVP Mark Eisner sold 6,796 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total transaction of $37,174.12. Following the completion of the sale, the executive vice president owned 108,204 shares in the company, valued at $591,875.88. This trade represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicki L. Sato sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total transaction of $112,200.00. Following the sale, the director owned 1,298,391 shares of the company’s stock, valued at approximately $6,621,794.10. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,382 shares of company stock worth $388,550. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VIR. PNC Financial Services Group Inc. grew its position in shares of Vir Biotechnology by 26.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company’s stock valued at $68,000 after purchasing an additional 2,171 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Vir Biotechnology by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 228,949 shares of the company’s stock worth $1,154,000 after acquiring an additional 2,300 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Vir Biotechnology by 15.3% during the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock worth $125,000 after acquiring an additional 2,566 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Vir Biotechnology by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,290 shares of the company’s stock worth $248,000 after acquiring an additional 3,209 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Vir Biotechnology by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 71,332 shares of the company’s stock worth $524,000 after purchasing an additional 3,506 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).