Vir Biotechnology (NASDAQ:VIR) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Vir Biotechnology (NASDAQ:VIR) from a hold rating to a strong sell rating in a research note released on Tuesday,Zacks reports.

Several other equities research analysts also recently commented on VIR. Morgan Stanley set a $25.00 price objective on Vir Biotechnology in a report on Thursday, August 6th. HC Wainwright upped their price objective on Vir Biotechnology from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial reiterated a “strong-buy” rating on shares of Vir Biotechnology in a research report on Monday, September 28th. Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

Vir Biotechnology Stock Performance

Shares of VIR stock opened at $11.12 on Tuesday. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -5.98 and a beta of 1.59. Vir Biotechnology has a one year low of $4.82 and a one year high of $11.94. The company’s 50-day moving average is $10.41 and its 200 day moving average is $9.78.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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. The firm’s quarterly revenue was up 19582.5% on a year-over-year basis. During the same period last year, the firm posted ($0.80) earnings per share. As a group, research analysts predict that Vir Biotechnology will post -1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fiduciary Financial Advisors bought a new stake in Vir Biotechnology during the second quarter valued at about $29,000. Caxton Associates LLP purchased a new position in shares of Vir Biotechnology in the first quarter valued at about $112,000. Amundi boosted its stake in shares of Vir Biotechnology by 52.8% in the first quarter. Amundi now owns 15,315 shares of the company’s stock worth $137,000 after acquiring an additional 5,294 shares during the period. Royal Bank of Canada boosted its stake in shares of Vir Biotechnology by 223.1% in the first quarter. Royal Bank of Canada now owns 15,355 shares of the company’s stock worth $138,000 after acquiring an additional 10,603 shares during the period. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Vir Biotechnology by 19.8% in the first quarter. Maryland State Retirement & Pension System now owns 16,163 shares of the company’s stock worth $145,000 after acquiring an additional 2,668 shares during the period. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology News Summary

Here are the key news stories impacting Vir Biotechnology this week:

• Positive Sentiment: Higher price target and Buy rating: HC Wainwright raised its price target for Vir Biotechnology from $20 to $22 and reiterated a Buy rating, implying substantial potential upside from the current level. The upgrade reflects optimism about Vir’s pipeline and upcoming clinical catalysts. Vir Biotechnology stock gained before SOLSTICE data
• Positive Sentiment: New chief medical officer: Vir appointed David Liu as chief medical officer, strengthening its clinical-development leadership ahead of important data readouts. The appointment may improve investor confidence in execution across the company’s infectious-disease programs. Vir appoints David Liu as chief medical officer
• Neutral Sentiment: SOLSTICE data is the key catalyst: Upcoming Phase 2 SOLSTICE results in HDV could materially reshape Vir’s investment narrative. Positive efficacy or safety data could support the pipeline and valuation, while disappointing results could increase development and financing concerns. No results have been reported yet. Upcoming SOLSTICE Phase 2 HDV data
• Neutral Sentiment: A financial comparison of uniQure and Vir Biotechnology provides sector context but does not appear to introduce a new company-specific catalyst. uniQure and Vir Biotechnology financial survey
• Negative Sentiment: Zacks downgrade: Zacks Research lowered Vir Biotechnology from “Hold” to “Strong Sell.” The downgrade is likely weighing on the stock because it reinforces concerns about the company’s continuing losses and reliance on future clinical success. Vir Biotechnology stock rating lowered by Zacks Research

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing treatments and preventive therapies for serious infectious diseases. The company uses immunologic insights, antibody technology, cellular approaches and other scientific platforms to address diseases in which the immune system plays a central role.

Vir’s research and development programs have included therapies for chronic hepatitis B, influenza, human immunodeficiency virus (HIV) and COVID-19. Its pipeline has included investigational antibody and immunomodulatory candidates such as tobevibart and elebsiran for hepatitis B, as well as programs designed to prevent or treat other viral infections.