Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $17.30 Consensus Price Target from Brokerages

Vir Biotechnology, Inc. (NASDAQ:VIR) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $17.30.

VIR has been the subject of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Vir Biotechnology in a research note on Monday, December 1st. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Vir Biotechnology in a research report on Monday, September 15th. Bank of America raised shares of Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. Finally, Evercore ISI started coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 price objective for the company.

Insider Activity

In related news, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $6.00, for a total transaction of $132,000.00. Following the sale, the director owned 1,188,391 shares in the company, valued at approximately $7,130,346. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Endurance (Cayman) Ltd Svf sold 191,854 shares of Vir Biotechnology stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $5.98, for a total transaction of $1,147,286.92. Following the completion of the transaction, the insider directly owned 13,728,924 shares in the company, valued at $82,098,965.52. This trade represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,031,666 shares of company stock worth $18,292,045. Corporate insiders own 16.00% of the company’s stock.

Institutional Trading of Vir Biotechnology

Hedge funds have recently added to or reduced their stakes in the stock. Cinctive Capital Management LP acquired a new position in shares of Vir Biotechnology in the 1st quarter valued at about $547,000. Clarius Group LLC grew its stake in Vir Biotechnology by 979.7% during the second quarter. Clarius Group LLC now owns 617,535 shares of the company’s stock worth $3,112,000 after purchasing an additional 560,342 shares during the period. Goldman Sachs Group Inc. increased its holdings in Vir Biotechnology by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company’s stock worth $4,813,000 after purchasing an additional 225,544 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Vir Biotechnology in the second quarter worth approximately $289,000. Finally, Allianz Asset Management GmbH lifted its stake in Vir Biotechnology by 6.2% in the second quarter. Allianz Asset Management GmbH now owns 327,700 shares of the company’s stock valued at $1,652,000 after buying an additional 19,000 shares during the period. Institutional investors and hedge funds own 65.32% of the company’s stock.

Vir Biotechnology Stock Performance

Shares of VIR opened at $6.50 on Thursday. The firm has a market cap of $904.28 million, a P/E ratio of -1.80 and a beta of 1.34. Vir Biotechnology has a 52 week low of $4.16 and a 52 week high of $14.45. The firm’s 50-day simple moving average is $5.85 and its 200 day simple moving average is $5.36.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.47). Vir Biotechnology had a negative return on equity of 50.76% and a negative net margin of 2,963.54%.The firm had revenue of $0.24 million for the quarter, compared to the consensus estimate of $1.98 million. During the same quarter in the prior year, the firm earned ($1.56) EPS. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Vir Biotechnology will post -3.92 earnings per share for the current year.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).