Vir Biotechnology (NASDAQ:VIR) Share Price Breaks Above 50 Day Moving Average – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $10.77 and traded as high as $11.10. Vir Biotechnology shares last traded at $11.04, with a volume of 1,587,192 shares traded.

Wall Street Analysts Forecast Growth

VIR has been the subject of a number of recent research reports. Raymond James Financial restated a “strong-buy” rating on shares of Vir Biotechnology in a research note on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Friday, October 2nd. Wall Street Zen raised shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. HC Wainwright lifted their price objective on shares of Vir Biotechnology from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Finally, Zacks Research downgraded shares of Vir Biotechnology from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.86.

Vir Biotechnology Trading Up 3.1%

The stock’s fifty day moving average is $10.86 and its two-hundred day moving average is $9.43. The company has a market capitalization of $2.02 billion, a PE ratio of -6.41 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $238.95 million during the quarter, compared to the consensus estimate of $135.88 million. During the same period last year, the firm posted ($0.80) EPS. The company’s revenue for the quarter was up 19582.5% compared to the same quarter last year. As a group, analysts anticipate that Vir Biotechnology, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Vir Biotechnology during the 3rd quarter valued at $438,000. China Universal Asset Management Co. Ltd. lifted its stake in Vir Biotechnology by 62.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 43,675 shares of the company’s stock worth $465,000 after purchasing an additional 16,834 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Vir Biotechnology by 183.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 19,688 shares of the company’s stock worth $220,000 after purchasing an additional 12,731 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Vir Biotechnology by 384.9% in the second quarter. Squarepoint Ops LLC now owns 126,141 shares of the company’s stock worth $1,285,000 after purchasing an additional 100,128 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Vir Biotechnology by 29.9% during the second quarter. Arizona State Retirement System now owns 32,255 shares of the company’s stock valued at $329,000 after buying an additional 7,416 shares during the period. Institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir’s research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.