Vir Biotechnology (NASDAQ:VIR) Earns Buy Rating from Needham & Company LLC

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $19.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 106.52% from the company’s current price.

A number of other equities research analysts have also commented on the company. Barclays lowered their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $10.00 to $20.00 in a research report on Thursday, January 9th. HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. Finally, Leerink Partners increased their price target on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.83.

Vir Biotechnology Stock Up 1.1 %

Shares of NASDAQ:VIR opened at $9.20 on Thursday. Vir Biotechnology has a twelve month low of $6.56 and a twelve month high of $14.45. The stock’s 50 day moving average is $9.42 and its 200-day moving average is $8.50. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.35 and a beta of 0.63.

Vir Biotechnology (NASDAQ:VIR) last issued its 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. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Equities research analysts anticipate that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Activity

In other news, Director George A. Scangos sold 10,964 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total transaction of $107,556.84. Following the completion of the transaction, the director now owns 708,295 shares in the company, valued at approximately $6,948,373.95. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,562 shares of company stock valued at $259,693 in the last ninety days. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Vir Biotechnology by 29.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,325 shares of the company’s stock worth $1,331,000 after acquiring an additional 40,954 shares during the period. Woodline Partners LP bought a new position in Vir Biotechnology in the 4th quarter worth about $991,000. Two Sigma Advisers LP boosted its stake in Vir Biotechnology by 74.8% in the 4th quarter. Two Sigma Advisers LP now owns 74,800 shares of the company’s stock worth $549,000 after purchasing an additional 32,000 shares during the period. Stonepine Capital Management LLC bought a new position in Vir Biotechnology in the 4th quarter worth about $1,205,000. Finally, Sphera Funds Management LTD. boosted its stake in Vir Biotechnology by 523.4% in the 4th quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company’s stock worth $4,271,000 after purchasing an additional 488,500 shares during the period. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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).