JPMorgan Chase & Co. Boosts Vir Biotechnology (NASDAQ:VIR) Price Target to $14.00

Vir Biotechnology (NASDAQ:VIR) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $10.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.70% from the stock’s previous close.

Other analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a research note on Thursday. Barclays lowered their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Vir Biotechnology Stock Performance

VIR stock opened at $12.10 on Thursday. The company’s 50 day moving average price is $8.24 and its 200 day moving average price is $8.36. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.09 and a beta of 0.51. Vir Biotechnology has a fifty-two week low of $6.56 and a fifty-two week high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The firm had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.22) earnings per share. Equities analysts forecast that Vir Biotechnology will post -3.36 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction on 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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 14,786 shares of company stock valued at $170,172 in the last three months. 15.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after acquiring an additional 2,351 shares during the period. nVerses Capital LLC purchased a new stake in shares of Vir Biotechnology during the third quarter worth approximately $56,000. Magnetar Financial LLC acquired a new stake in shares of Vir Biotechnology during the second quarter worth $95,000. Quest Partners LLC grew its position in Vir Biotechnology by 142.1% in the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Vir Biotechnology in the 2nd quarter valued at $119,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

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).