Vir Biotechnology (NASDAQ:VIR) Stock Rating Reaffirmed by Needham & Company LLC

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $15.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 44.37% from the stock’s current price.

Several other research firms have also weighed in on VIR. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Friday, March 15th. JPMorgan Chase & Co. increased their target price on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average target price of $34.63.

Vir Biotechnology Stock Up 13.2 %

Shares of Vir Biotechnology stock opened at $10.39 on Friday. Vir Biotechnology has a 1-year low of $7.61 and a 1-year high of $27.48. The firm’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $9.60.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 31.89%. The business had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. During the same period in the prior year, the business posted ($1.06) earnings per share. Vir Biotechnology’s revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that Vir Biotechnology will post -4.04 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In related news, EVP Ann M. Hanly sold 2,711 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.05, for a total value of $27,245.55. Following the completion of the transaction, the executive vice president now owns 132,069 shares of the company’s stock, valued at $1,327,293.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Ann M. Hanly sold 12,296 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $10.05, for a total transaction of $123,574.80. Following the completion of the sale, the executive vice president now owns 134,780 shares in the company, valued at $1,354,539. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Hanly sold 2,711 shares of Vir Biotechnology stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the completion of the transaction, the executive vice president now owns 132,069 shares of the company’s stock, valued at approximately $1,327,293.45. The disclosure for this sale can be found here. Insiders sold 152,831 shares of company stock valued at $1,525,844 over the last quarter. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several large investors have recently modified their holdings of VIR. Hudson Bay Capital Management LP increased its holdings in Vir Biotechnology by 1,975.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 207,500 shares of the company’s stock worth $1,944,000 after acquiring an additional 197,500 shares during the period. Barclays PLC raised its position in shares of Vir Biotechnology by 124.6% in the third quarter. Barclays PLC now owns 412,161 shares of the company’s stock worth $3,863,000 after buying an additional 228,634 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Vir Biotechnology by 582.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 162,128 shares of the company’s stock valued at $1,519,000 after buying an additional 138,387 shares during the period. GSA Capital Partners LLP purchased a new position in Vir Biotechnology during the third quarter worth about $1,098,000. Finally, Vanguard Group Inc. increased its stake in Vir Biotechnology by 9.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,200,666 shares of the company’s stock worth $104,950,000 after acquiring an additional 960,302 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.