Vir Biotechnology (NASDAQ:VIR) Given New $125.00 Price Target at HC Wainwright

Vir Biotechnology (NASDAQ:VIRGet Rating) had its price target reduced by analysts at HC Wainwright from $250.00 to $125.00 in a research report issued on Thursday, The Fly reports.

VIR has been the topic of a number of other reports. TheStreet lowered shares of Vir Biotechnology from a “c-” rating to a “d+” rating in a research note on Monday, March 28th. Needham & Company LLC lowered their price objective on Vir Biotechnology from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 28th. Zacks Investment Research upgraded Vir Biotechnology from a “strong sell” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Robert W. Baird raised shares of Vir Biotechnology from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $28.00 in a research report on Thursday, March 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology currently has a consensus rating of “Hold” and a consensus price target of $56.57.

Vir Biotechnology stock opened at $19.08 on Thursday. The company’s fifty day moving average price is $23.03 and its 200 day moving average price is $31.69. Vir Biotechnology has a 1 year low of $18.84 and a 1 year high of $58.00. The stock has a market capitalization of $2.53 billion, a P/E ratio of 2.11, a P/E/G ratio of 0.42 and a beta of -0.55.

Vir Biotechnology (NASDAQ:VIRGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.07. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $811.05 million. Vir Biotechnology had a net margin of 52.29% and a return on equity of 119.80%. The business’s revenue for the quarter was up 59900.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.32) EPS. On average, sell-side analysts predict that Vir Biotechnology will post 4.64 EPS for the current fiscal year.

In other Vir Biotechnology news, Director Vicki L. Sato sold 14,541 shares of Vir Biotechnology stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $20.62, for a total value of $299,835.42. Following the sale, the director now owns 1,503,463 shares of the company’s stock, valued at $31,001,407.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vicki L. Sato sold 17,915 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $20.90, for a total transaction of $374,423.50. Following the completion of the sale, the director now directly owns 1,518,004 shares in the company, valued at approximately $31,726,283.60. The disclosure for this sale can be found here. Insiders have sold 56,168 shares of company stock valued at $1,411,832 in the last three months. Insiders own 22.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in VIR. Point72 Asset Management L.P. lifted its holdings in Vir Biotechnology by 9,370.5% in the 4th quarter. Point72 Asset Management L.P. now owns 2,055,100 shares of the company’s stock worth $86,047,000 after purchasing an additional 2,033,400 shares in the last quarter. Millennium Management LLC lifted its holdings in Vir Biotechnology by 485.9% during the fourth quarter. Millennium Management LLC now owns 967,825 shares of the company’s stock valued at $40,523,000 after purchasing an additional 802,652 shares in the last quarter. Norges Bank acquired a new stake in shares of Vir Biotechnology in the fourth quarter valued at about $20,827,000. Alliancebernstein L.P. raised its stake in Vir Biotechnology by 22.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,620,753 shares of the company’s stock worth $109,731,000 after purchasing an additional 483,261 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Vir Biotechnology in the first quarter valued at approximately $8,460,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Vir Biotechnology Company Profile (Get Rating)

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus.

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