HC Wainwright Reiterates Buy Rating for Vir Biotechnology (NASDAQ:VIR)

HC Wainwright restated their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a report published on Wednesday,Benzinga reports. HC Wainwright currently has a $110.00 price target on the stock. HC Wainwright also issued estimates for Vir Biotechnology’s FY2024 earnings at ($0.37) EPS.

A number of other research firms have also commented on VIR. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday. Barclays reduced their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Vir Biotechnology Stock Up 2.4 %

Shares of VIR stock opened at $7.12 on Wednesday. The company has a 50 day moving average of $7.91 and a 200-day moving average of $8.86. Vir Biotechnology has a 12-month low of $6.56 and a 12-month high of $13.09. The firm has a market cap of $980.57 million, a P/E ratio of -1.82 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (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 for the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter in the previous year, the business earned ($1.22) EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities analysts expect that Vir Biotechnology will post -3.3 EPS for the current year.

Insider Transactions at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now directly owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. The trade was a 51.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 15,940 shares of company stock valued at $127,410. Insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of 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 last quarter. Innealta Capital LLC bought a new stake in Vir Biotechnology in the second quarter worth $32,000. nVerses Capital LLC bought a new stake in Vir Biotechnology in the third quarter worth $56,000. Magnetar Financial LLC bought a new stake in Vir Biotechnology in the second quarter worth $95,000. Finally, Quest Partners LLC lifted its stake in Vir Biotechnology by 142.1% in the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock worth $113,000 after purchasing an additional 7,452 shares during the last quarter. 65.32% of the stock is owned by institutional investors.

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).