Vir Biotechnology (NASDAQ:VIR) Hits New 1-Year High on Analyst Upgrade

by · The Markets Daily

Vir Biotechnology, Inc. (NASDAQ:VIR – Get Free Report)’s share price reached a new 52-week high on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $10.00 to $14.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Vir Biotechnology traded as high as $14.45 and last traded at $12.48, with a volume of 39456292 shares changing hands. The stock had previously closed at $7.89.

Several other brokerages have also issued reports on VIR. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Barclays cut their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $10.00 to $20.00 in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Check Out Our Latest Analysis on Vir Biotechnology

Insiders Place Their Bets

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the transaction, the director now owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 14,786 shares of company stock valued at $170,172 in the last ninety days. Company insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Several large investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after buying an additional 2,351 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Vir Biotechnology by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 194,208 shares of the company’s stock valued at $1,455,000 after acquiring an additional 2,600 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Vir Biotechnology by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 48,987 shares of the company’s stock worth $436,000 after acquiring an additional 3,605 shares during the period. Barclays PLC boosted its holdings in Vir Biotechnology by 1.3% in the third quarter. Barclays PLC now owns 550,186 shares of the company’s stock valued at $4,121,000 after acquiring an additional 7,287 shares in the last quarter. Finally, Quest Partners LLC increased its position in Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after purchasing an additional 7,452 shares during the period. 65.32% of the stock is owned by institutional investors.

Vir Biotechnology Stock Performance

The company’s 50-day moving average price is $8.24 and its 200 day moving average price is $8.36. The stock has a market capitalization of $1.67 billion, a PE ratio of -3.09 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter last year, the business earned ($1.22) earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Analysts expect that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current year.

About Vir Biotechnology

(Get Free Report)

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).

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