Vir Biotechnology (NASDAQ:VIR) Stock Rating Reaffirmed by HC Wainwright

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $110.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vir Biotechnology has a consensus rating of “Moderate Buy” and an average target price of $33.57.

Vir Biotechnology Stock Down 3.9 %

Vir Biotechnology stock opened at $9.54 on Tuesday. The stock has a market cap of $1.28 billion, a PE ratio of -2.38 and a beta of 0.47. Vir Biotechnology has a 12-month low of $7.61 and a 12-month high of $27.48. The business’s 50-day moving average price is $9.73 and its two-hundred day moving average price is $9.64.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The company had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. During the same period in the previous year, the firm posted ($1.06) EPS. The firm’s revenue was down 10.5% on a year-over-year basis. As a group, analysts expect that Vir Biotechnology will post -4.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vir Biotechnology news, CFO Sung Lee sold 6,008 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $9.89, for a total transaction of $59,419.12. Following the sale, the chief financial officer now owns 100,492 shares of the company’s stock, valued at $993,865.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the sale, the chief executive officer now owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System lifted its stake in Vir Biotechnology by 6.4% in the third quarter. Maryland State Retirement & Pension System now owns 31,647 shares of the company’s stock valued at $297,000 after buying an additional 1,894 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Vir Biotechnology by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 861,484 shares of the company’s stock valued at $8,072,000 after acquiring an additional 24,492 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Vir Biotechnology by 28.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,343 shares of the company’s stock worth $181,000 after acquiring an additional 4,261 shares in the last quarter. Strs Ohio grew its holdings in Vir Biotechnology by 24.7% in the third quarter. Strs Ohio now owns 46,000 shares of the company’s stock worth $431,000 after purchasing an additional 9,100 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Vir Biotechnology by 6.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,706 shares of the company’s stock valued at $541,000 after purchasing an additional 3,628 shares in the last quarter. Institutional investors own 65.32% 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 offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.