Vir Biotechnology (NASDAQ:VIR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vir Biotechnology (NASDAQ:VIR) had its price objective increased by JPMorgan Chase & Co. from $10.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently commented on VIR. Barclays dropped their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Finally, Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $20.00 in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.80.

Vir Biotechnology Trading Up 58.2 %

NASDAQ:VIR opened at $12.48 on Thursday. The firm has a fifty day simple moving average of $8.18 and a 200-day simple moving average of $8.34. Vir Biotechnology has a 12 month low of $6.56 and a 12 month high of $14.45. The company has a market capitalization of $1.72 billion, a P/E ratio of -3.18 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last posted 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). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter in the previous year, the firm posted ($1.22) EPS. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts forecast that Vir Biotechnology will post -3.36 EPS for the current year.

Insider Activity

In other news, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the transaction, the director now owns 1,312,391 shares in the company, valued at $16,431,135.32. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 14,786 shares of company stock worth $170,172 in the last ninety days. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake 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 purchasing an additional 2,351 shares in the last quarter. nVerses Capital LLC purchased a new stake in Vir Biotechnology during the 3rd quarter worth approximately $56,000. Magnetar Financial LLC acquired a new position in shares of Vir Biotechnology during the second quarter valued at approximately $95,000. Quest Partners LLC lifted its position in shares of Vir Biotechnology by 142.1% in the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after acquiring an additional 7,452 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Vir Biotechnology in the third quarter worth approximately $118,000. 65.32% of the stock is currently 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).