The Goldman Sachs Group Cuts Vir Biotechnology (NASDAQ:VIR) Price Target to $21.00

Vir Biotechnology (NASDAQ:VIR) had its price target reduced by investment analysts at The Goldman Sachs Group from $28.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 284.97% from the stock’s previous close.

VIR has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a report on Thursday, February 27th. Barclays raised their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. upped their target price on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. Finally, Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $20.00 in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Vir Biotechnology has a consensus rating of “Moderate Buy” and an average price target of $33.57.

Vir Biotechnology Stock Performance

Vir Biotechnology stock traded up $0.02 during midday trading on Thursday, reaching $5.46. The company’s stock had a trading volume of 300,697 shares, compared to its average volume of 1,334,040. The firm has a market capitalization of $748.12 million, a PE ratio of -1.40 and a beta of 1.14. Vir Biotechnology has a fifty-two week low of $4.95 and a fifty-two week high of $14.45. The stock’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $8.13.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09. The business had revenue of $12.37 million for the quarter, compared to analysts’ expectations of $8.14 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Equities analysts predict that Vir Biotechnology will post -3.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total value of $67,389.22. Following the transaction, the executive vice president now owns 79,460 shares in the company, valued at approximately $726,264.40. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Backer Marianne De sold 79,712 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total transaction of $474,286.40. Following the sale, the chief executive officer now directly owns 769,505 shares of the company’s stock, valued at $4,578,554.75. The trade was a 9.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,611 shares of company stock worth $663,525 over the last quarter. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VIR. State Street Corp grew its stake in Vir Biotechnology by 10.4% in the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vir Biotechnology by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,196,601 shares of the company’s stock worth $16,127,000 after purchasing an additional 7,827 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Vir Biotechnology by 58.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock valued at $14,059,000 after buying an additional 703,360 shares during the period. Millennium Management LLC grew its position in shares of Vir Biotechnology by 55.3% during the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock valued at $12,589,000 after buying an additional 610,367 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Vir Biotechnology by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,252,655 shares of the company’s stock worth $9,194,000 after acquiring an additional 118,379 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

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).