Vir Biotechnology (NASDAQ:VIR) Shares Gap Up on Analyst Upgrade

Vir Biotechnology, Inc. (NASDAQ:VIRGet Free Report) shares gapped up before the market opened on Wednesday after Morgan Stanley raised their price target on the stock from $12.00 to $15.00. The stock had previously closed at $10.58, but opened at $12.18. Morgan Stanley currently has an equal weight rating on the stock. Vir Biotechnology shares last traded at $12.30, with a volume of 667,164 shares.

VIR has been the subject of a number of other research reports. Needham & Company LLC increased their target price on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.14.

Check Out Our Latest Report on VIR

Insider Activity

In related news, EVP Ann M. Hanly sold 2,711 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the transaction, the executive vice president now directly owns 132,069 shares in the company, valued at $1,327,293.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vir Biotechnology news, CFO Sung Lee sold 6,008 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was 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 $993,865.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Hanly sold 2,711 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.05, for a total value of $27,245.55. Following the completion of the sale, the executive vice president now owns 132,069 shares in the company, valued at $1,327,293.45. The disclosure for this sale can be found here. In the last three months, insiders sold 81,714 shares of company stock worth $777,197. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Vir Biotechnology by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock valued at $123,709,000 after purchasing an additional 1,096,473 shares during the period. Algert Global LLC acquired a new position in shares of Vir Biotechnology during the third quarter valued at $4,214,000. Barclays PLC increased its holdings in shares of Vir Biotechnology by 124.6% during the third quarter. Barclays PLC now owns 412,161 shares of the company’s stock valued at $3,863,000 after purchasing an additional 228,634 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of Vir Biotechnology by 68.5% during the third quarter. Rafferty Asset Management LLC now owns 525,317 shares of the company’s stock valued at $4,922,000 after purchasing an additional 213,477 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Vir Biotechnology by 41.0% during the third quarter. Jupiter Asset Management Ltd. now owns 708,257 shares of the company’s stock valued at $6,636,000 after purchasing an additional 205,913 shares during the period. 65.32% of the stock is currently owned by institutional investors.

Vir Biotechnology Trading Down 5.4 %

The business has a fifty day moving average price of $9.59 and a 200 day moving average price of $9.90.

Vir Biotechnology (NASDAQ:VIRGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.51. The company had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. Vir Biotechnology had a negative return on equity of 32.58% and a negative net margin of 677.69%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company earned ($1.06) earnings per share. Sell-side analysts predict that Vir Biotechnology, Inc. will post -3.42 EPS for the current fiscal year.

Vir Biotechnology Company Profile

(Get Free Report)

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.

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