Vir Biotechnology (NASDAQ:VIR) Stock Price Up 8.1% – Time to Buy?

by · The Markets Daily

Vir Biotechnology, Inc. (NASDAQ:VIRGet Free Report)’s stock price was up 8.1% on Tuesday . The stock traded as high as $10.64 and last traded at $10.7110. 393,240 shares changed hands during trading, a decline of 84% from the average session volume of 2,446,896 shares. The stock had previously closed at $9.91.

Analyst Upgrades and Downgrades

VIR has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating on shares of Vir Biotechnology in a report on Monday, August 10th. Wall Street Zen raised shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Leerink Partners raised their price target on shares of Vir Biotechnology from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley set a $25.00 price objective on shares of Vir Biotechnology in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Vir Biotechnology currently has a consensus rating of “Moderate Buy” and an average target price of $20.62.

Get Our Latest Stock Report on VIR

Vir Biotechnology Stock Performance

The stock has a 50 day moving average of $9.44 and a two-hundred day moving average of $9.21. The firm has a market capitalization of $1.86 billion, a P/E ratio of -5.91 and a beta of 1.66.

Vir Biotechnology (NASDAQ:VIRGet Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The firm had revenue of $238.95 million during the quarter, compared to analysts’ expectations of $135.88 million. Vir Biotechnology had a negative return on equity of 29.99% and a negative net margin of 638.88%.The company’s revenue was up 19582.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.80) earnings per share. Sell-side analysts predict that Vir Biotechnology, Inc. will post -1.84 EPS for the current year.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 3,200 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $9.45, for a total value of $30,240.00. Following the completion of the sale, the director directly owned 21,216 shares in the company, valued at approximately $200,491.20. The trade was a 13.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Vir Biotechnology by 1,484.2% during the second quarter. California State Teachers Retirement System now owns 1,384,210 shares of the company’s stock valued at $135,840,000 after acquiring an additional 1,296,835 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Vir Biotechnology by 25.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,147 shares of the company’s stock worth $1,673,000 after purchasing an additional 33,644 shares during the period. Empowered Funds LLC bought a new position in shares of Vir Biotechnology in the second quarter worth about $180,000. Corient Private Wealth LP acquired a new position in shares of Vir Biotechnology during the 2nd quarter worth about $3,165,000. Finally, Bank of America Corp DE acquired a new position in shares of Vir Biotechnology during the 2nd quarter worth about $11,642,000. Institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

(Get Free Report)

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.

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