Vir Biotechnology (NASDAQ:VIR) Shares Gap Up – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR) gapped up prior to trading on Tuesday . The stock had previously closed at $8.15, but opened at $10.00. Vir Biotechnology shares last traded at $9.25, with a volume of 716,195 shares traded.

Analyst Upgrades and Downgrades

VIR has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Barclays reduced their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Stock Up 14.2 %

The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -2.36 and a beta of 0.49. The stock’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $8.78.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The company had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.22) earnings per share. On average, analysts predict that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. This represents a 51.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 15,940 shares of company stock worth $127,410 in the last ninety days. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in shares of Vir Biotechnology during the 2nd quarter worth approximately $32,000. Blue Trust Inc. grew its position in shares of Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after buying an additional 2,351 shares in the last quarter. nVerses Capital LLC acquired a new stake in Vir Biotechnology during the third quarter worth approximately $56,000. Magnetar Financial LLC acquired a new position in shares of Vir Biotechnology in the 2nd quarter valued at $95,000. Finally, Quest Partners LLC grew its position in shares of Vir Biotechnology by 142.1% in the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

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).