Vir Biotechnology (NASDAQ:VIR) PT Raised to $19.00 at Needham & Company LLC

Vir Biotechnology (NASDAQ:VIRGet Free Report) had its price objective hoisted by investment analysts at Needham & Company LLC from $15.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 58.60% from the company’s current price.

Several other research firms have also recently weighed in on VIR. JPMorgan Chase & Co. increased their price objective on Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. HC Wainwright reissued 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.14.

Get Our Latest Analysis on VIR

Vir Biotechnology Stock Down 5.4 %

Shares of Vir Biotechnology stock opened at $11.98 on Wednesday. Vir Biotechnology has a 12-month low of $7.61 and a 12-month high of $27.48. The stock has a market capitalization of $1.63 billion, a P/E ratio of -2.99 and a beta of 0.50. The stock has a 50 day moving average price of $9.59 and a two-hundred day moving average price of $9.90.

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

Insider Activity at Vir Biotechnology

In related news, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 678,457 shares in the company, valued at $6,418,203.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vir Biotechnology news, EVP Ann M. Hanly sold 2,711 shares of Vir Biotechnology 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 completion of the transaction, the executive vice president now directly owns 132,069 shares of the company’s stock, valued at $1,327,293.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,714 shares of company stock worth $777,197. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Vir Biotechnology by 249.9% during the first quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock valued at $27,000 after acquiring an additional 1,934 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Vir Biotechnology by 274.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after acquiring an additional 2,177 shares during the period. Signaturefd LLC lifted its holdings in shares of Vir Biotechnology by 258.5% during the fourth quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock valued at $33,000 after acquiring an additional 2,399 shares during the period. Federated Hermes Inc. bought a new position in shares of Vir Biotechnology during the fourth quarter valued at $69,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Vir Biotechnology by 99.9% in the third quarter. PNC Financial Services Group Inc. now owns 9,317 shares of the company’s stock valued at $87,000 after buying an additional 4,656 shares during the last quarter. 65.32% of the stock is owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Vir Biotechnology (NASDAQ:VIR)

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