Vir Biotechnology (NASDAQ:VIR) PT Raised to $12.00

Vir Biotechnology (NASDAQ:VIR) had its price target increased by research analysts at JPMorgan Chase & Co. from $10.00 to $12.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.50% from the company’s current price.

Separately, HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, March 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.63.

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock opened at $10.39 on Friday. The business has a 50-day moving average price of $9.79 and a 200 day moving average price of $9.60. Vir Biotechnology has a fifty-two week low of $7.61 and a fifty-two week high of $27.48.

Vir Biotechnology (NASDAQ:VIR) last issued its 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. Vir Biotechnology had a negative return on equity of 31.89% and a negative net margin of 677.69%. The company had revenue of $56.38 million during the quarter, compared to the consensus estimate of $11.71 million. During the same period in the previous year, the firm posted ($1.06) earnings per share. Vir Biotechnology’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts forecast that Vir Biotechnology will post -4.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at $6,418,203.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vir Biotechnology news, EVP Phillip Pang sold 3,321 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $10.24, for a total transaction of $34,007.04. Following the sale, the executive vice president now directly owns 264,679 shares of the company’s stock, valued at approximately $2,710,312.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Backer Marianne De sold 72,995 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total transaction of $690,532.70. Following the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at $6,418,203.22. The disclosure for this sale can be found here. Insiders sold 152,831 shares of company stock worth $1,525,844 over the last ninety days. Company insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Several large investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP increased its stake in shares of Vir Biotechnology by 1,975.0% in the third quarter. Hudson Bay Capital Management LP now owns 207,500 shares of the company’s stock worth $1,944,000 after acquiring an additional 197,500 shares during the last quarter. Barclays PLC increased its position 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 during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Vir Biotechnology by 582.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 162,128 shares of the company’s stock worth $1,519,000 after purchasing an additional 138,387 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Vir Biotechnology during the 3rd quarter valued at about $1,098,000. Finally, Vanguard Group Inc. grew its position in Vir Biotechnology by 9.4% in the third quarter. Vanguard Group Inc. now owns 11,200,666 shares of the company’s stock worth $104,950,000 after acquiring an additional 960,302 shares in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

About Vir Biotechnology

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.