Vir Biotechnology (NASDAQ:VIR) Given New $15.00 Price Target at Morgan Stanley

Vir Biotechnology (NASDAQ:VIRFree Report) had its price objective increased by Morgan Stanley from $12.00 to $15.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

VIR has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price target on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a neutral rating in a report on Friday, May 3rd. HC Wainwright restated a buy rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday. Finally, Needham & Company LLC upped their price target on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a buy rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $34.14.

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Vir Biotechnology Price Performance

Shares of VIR opened at $11.98 on Thursday. Vir Biotechnology has a twelve month low of $7.61 and a twelve month high of $27.48. The company’s fifty day simple moving average is $9.59 and its 200-day simple moving average is $9.90.

Vir Biotechnology (NASDAQ:VIRGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.48) earnings per share 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 business had revenue of $56.38 million for the quarter, compared to the consensus estimate of $11.71 million. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts expect that Vir Biotechnology will post -3.42 earnings per share for the current year.

Insiders Place Their Bets

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total transaction of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares in the company, valued at approximately $6,418,203.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Sung Lee sold 6,008 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $9.89, for a total value of $59,419.12. Following the sale, the chief financial officer now directly owns 100,492 shares in the company, valued at approximately $993,865.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total transaction of $690,532.70. Following the completion of the sale, the chief executive officer now owns 678,457 shares in the company, valued at $6,418,203.22. The disclosure for this sale can be found here. Insiders have sold a total of 81,714 shares of company stock worth $777,197 in the last three months. Corporate insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Vir Biotechnology by 18.1% in the 3rd quarter. Victory Capital Management Inc. now owns 123,030 shares of the company’s stock valued at $1,153,000 after purchasing an additional 18,882 shares during the last quarter. Jump Financial LLC boosted its stake in Vir Biotechnology by 257.2% in the 3rd quarter. Jump Financial LLC now owns 50,263 shares of the company’s stock worth $471,000 after purchasing an additional 36,192 shares in the last quarter. Barclays PLC boosted its stake in Vir Biotechnology by 124.6% in the 3rd quarter. Barclays PLC now owns 412,161 shares of the company’s stock worth $3,863,000 after purchasing an additional 228,634 shares in the last quarter. Amalgamated Bank boosted its stake in Vir Biotechnology by 8.1% in the 3rd quarter. Amalgamated Bank now owns 33,629 shares of the company’s stock worth $315,000 after purchasing an additional 2,511 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Vir Biotechnology by 1.1% in the 3rd quarter. Swiss National Bank now owns 191,500 shares of the company’s stock worth $1,794,000 after purchasing an additional 2,000 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.

Vir Biotechnology Company Profile

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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.

See Also

Analyst Recommendations for Vir Biotechnology (NASDAQ:VIR)

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