Vir Biotechnology (NASDAQ:VIR) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Vir Biotechnology (NASDAQ:VIRGet Rating) in a research note released on Friday, Marketbeat reports. The firm issued an underweight rating and a $15.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a buy rating and issued a $125.00 target price on shares of Vir Biotechnology in a report on Thursday, July 14th. Barclays dropped their target price on Vir Biotechnology to $67.00 in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $54.14.

Vir Biotechnology Price Performance

NASDAQ VIR opened at $22.38 on Friday. The stock has a market capitalization of $2.97 billion, a PE ratio of 2.79 and a beta of -0.29. The business has a 50 day simple moving average of $27.22 and a two-hundred day simple moving average of $24.97. Vir Biotechnology has a 1-year low of $18.21 and a 1-year high of $58.00.

Vir Biotechnology (NASDAQ:VIRGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.41). The firm had revenue of $40.60 million for the quarter, compared to analysts’ expectations of $211.14 million. Vir Biotechnology had a net margin of 52.29% and a return on equity of 68.86%. The business’s quarterly revenue was down 77.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, analysts anticipate that Vir Biotechnology will post 3.14 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In related news, major shareholder Endurance (Cayman) Ltd Svf sold 122,564 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $27.99, for a total transaction of $3,430,566.36. Following the completion of the transaction, the insider now owns 22,094,080 shares in the company, valued at approximately $618,413,299.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Vir Biotechnology news, Director Vicki L. Sato sold 17,915 shares of Vir Biotechnology stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $21.90, for a total transaction of $392,338.50. Following the completion of the sale, the director now directly owns 1,434,834 shares of the company’s stock, valued at approximately $31,422,864.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Endurance (Cayman) Ltd Svf sold 122,564 shares of Vir Biotechnology stock in a transaction on Monday, August 15th. The shares were sold at an average price of $27.99, for a total value of $3,430,566.36. Following the sale, the insider now directly owns 22,094,080 shares of the company’s stock, valued at $618,413,299.20. The disclosure for this sale can be found here. Insiders sold a total of 173,385 shares of company stock worth $4,767,741 in the last quarter. 22.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. raised its position in shares of 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 acquiring an additional 2,033,400 shares in the last quarter. State Street Corp raised its position in shares of Vir Biotechnology by 65.9% in the 1st quarter. State Street Corp now owns 4,193,764 shares of the company’s stock worth $107,864,000 after acquiring an additional 1,665,657 shares in the last quarter. Millennium Management LLC raised its position in shares of Vir Biotechnology by 485.9% in the 4th quarter. Millennium Management LLC now owns 967,825 shares of the company’s stock worth $40,523,000 after acquiring an additional 802,652 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Vir Biotechnology by 22.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,620,753 shares of the company’s stock worth $109,731,000 after acquiring an additional 483,261 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Vir Biotechnology by 495.8% in the 2nd quarter. Renaissance Technologies LLC now owns 562,400 shares of the company’s stock worth $14,324,000 after acquiring an additional 468,000 shares in the last quarter. 64.55% of the stock is owned by institutional investors.

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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Analyst Recommendations for Vir Biotechnology (NASDAQ:VIR)

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