Vir Biotechnology (NASDAQ:VIR) PT Lowered to $15.00

Vir Biotechnology (NASDAQ:VIR) had its target price reduced by stock analysts at Needham & Company LLC from $22.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 71.23% from the company’s current price.

VIR has been the subject of a number of other reports. The Goldman Sachs Group lowered their price target on Vir Biotechnology from $51.00 to $28.00 and set a “buy” rating for the company in a report on Friday, July 21st. Bank of America cut shares of Vir Biotechnology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $14.00 in a research report on Friday, September 8th. HC Wainwright decreased their price objective on shares of Vir Biotechnology from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Morgan Stanley dropped their target price on shares of Vir Biotechnology from $27.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, July 21st. Finally, Barclays decreased their price target on Vir Biotechnology from $59.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.33.

Vir Biotechnology Price Performance

Shares of VIR stock opened at $8.76 on Friday. The firm’s 50-day moving average is $9.60 and its two-hundred day moving average is $17.42. Vir Biotechnology has a 12 month low of $7.72 and a 12 month high of $31.55. The company has a market capitalization of $1.18 billion, a PE ratio of -1.95 and a beta of 0.31.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($1.45) EPS for the quarter, missing the consensus estimate of ($1.21) by ($0.24). The firm had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $22.39 million. Vir Biotechnology had a negative net margin of 53.38% and a negative return on equity of 13.08%. The firm’s quarterly revenue was up 379999900.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.58) EPS. Sell-side analysts forecast that Vir Biotechnology will post -4.66 EPS for the current year.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds have recently bought and sold shares of the stock. Signaturefd LLC grew its stake in shares of Vir Biotechnology by 1,313.0% during the first quarter. Signaturefd LLC now owns 1,300 shares of the company’s stock worth $30,000 after purchasing an additional 1,208 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Vir Biotechnology by 33.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock valued at $42,000 after acquiring an additional 456 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Vir Biotechnology by 1,270.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,823 shares of the company’s stock worth $46,000 after acquiring an additional 1,690 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Vir Biotechnology during the first quarter worth approximately $46,000. Finally, Fifth Third Bancorp boosted its holdings in Vir Biotechnology by 97.4% in the first quarter. Fifth Third Bancorp now owns 2,169 shares of the company’s stock valued at $50,000 after purchasing an additional 1,070 shares in the last quarter. Institutional investors and hedge funds own 67.05% of the company’s stock.

About Vir Biotechnology

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.