Vir Biotechnology (NASDAQ:VIR) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $110.00 target price on the stock. HC Wainwright also issued estimates for Vir Biotechnology’s FY2029 earnings at $2.25 EPS.

Other research analysts have also issued reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Barclays dropped their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $20.00 in a report on Thursday, January 9th. Finally, Leerink Partners increased their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.83.

Vir Biotechnology Stock Up 0.9 %

Shares of NASDAQ VIR opened at $10.40 on Friday. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $14.45. The business has a 50-day moving average of $8.81 and a two-hundred day moving average of $8.52.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $5.54 million. During the same period last year, the company earned ($1.22) earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that Vir Biotechnology will post -3.92 EPS for the current fiscal year.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the sale, the director now directly owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 13,383 shares of company stock valued at $160,070. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently made changes to their positions in VIR. Rhumbline Advisers raised its holdings in Vir Biotechnology by 0.5% during the fourth quarter. Rhumbline Advisers now owns 236,681 shares of the company’s stock worth $1,737,000 after purchasing an additional 1,288 shares during the last quarter. Blue Trust Inc. increased its holdings in Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after acquiring an additional 2,351 shares in the last quarter. Public Sector Pension Investment Board raised its position in Vir Biotechnology by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 194,208 shares of the company’s stock worth $1,455,000 after acquiring an additional 2,600 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Vir Biotechnology by 11.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 29,202 shares of the company’s stock valued at $214,000 after purchasing an additional 2,922 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Vir Biotechnology by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 48,987 shares of the company’s stock valued at $436,000 after purchasing an additional 3,605 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).