Brokerages Set Vir Biotechnology, Inc. (NASDAQ:VIR) PT at $17.30

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.30.

VIR has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Monday, December 22nd. Finally, Evercore ISI assumed coverage on shares of Vir Biotechnology in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $12.00 price target for the company.

Vir Biotechnology Price Performance

Vir Biotechnology stock opened at $6.03 on Monday. The stock has a market capitalization of $838.89 million, a price-to-earnings ratio of -1.67 and a beta of 1.34. Vir Biotechnology has a 1-year low of $4.16 and a 1-year high of $14.45. The business has a fifty day moving average price of $5.99 and a 200-day moving average price of $5.51.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Wednesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.47). Vir Biotechnology had a negative net margin of 2,963.54% and a negative return on equity of 50.76%. The business had revenue of $0.24 million for the quarter, compared to analyst estimates of $1.98 million. During the same period in the prior year, the company earned ($1.56) earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, major shareholder Endurance (Cayman) Ltd Svf sold 466,242 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $6.05, for a total transaction of $2,820,764.10. Following the completion of the transaction, the insider directly owned 15,621,369 shares of the company’s stock, valued at approximately $94,509,282.45. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 3,009,666 shares of company stock valued at $18,163,565. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors have recently made changes to their positions in the company. ARCH Venture Management LLC purchased a new stake in Vir Biotechnology during the second quarter worth $65,100,000. Millennium Management LLC raised its position in shares of Vir Biotechnology by 129.2% in the third quarter. Millennium Management LLC now owns 1,396,504 shares of the company’s stock worth $7,974,000 after acquiring an additional 787,212 shares during the period. Nordea Investment Management AB boosted its stake in shares of Vir Biotechnology by 403.7% during the 2nd quarter. Nordea Investment Management AB now owns 704,377 shares of the company’s stock worth $3,677,000 after acquiring an additional 564,537 shares in the last quarter. Clarius Group LLC boosted its stake in shares of Vir Biotechnology by 979.7% during the 2nd quarter. Clarius Group LLC now owns 617,535 shares of the company’s stock worth $3,112,000 after acquiring an additional 560,342 shares in the last quarter. Finally, Aberdeen Group plc grew its position in shares of Vir Biotechnology by 51.6% during the 3rd quarter. Aberdeen Group plc now owns 1,526,265 shares of the company’s stock valued at $8,715,000 after acquiring an additional 519,374 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical?stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell?based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID?19, HIV, hepatitis B, and tuberculosis.