Brokerages Set Vir Biotechnology, Inc. (NASDAQ:VIR) Target Price at $32.86

Vir Biotechnology, Inc. (NASDAQ:VIR) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.86.

A number of research firms recently commented on VIR. Barclays increased their target price on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, February 28th. The Goldman Sachs Group cut their price target on shares of Vir Biotechnology from $28.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd.

Vir Biotechnology Stock Performance

Shares of VIR opened at $5.24 on Thursday. Vir Biotechnology has a fifty-two week low of $4.32 and a fifty-two week high of $14.45. The company has a 50 day moving average price of $5.33 and a 200-day moving average price of $7.34. The stock has a market capitalization of $724.37 million, a PE ratio of -1.34 and a beta of 1.24.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.05). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The firm had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $8.59 million. During the same period in the previous year, the company earned ($0.48) EPS. The company’s revenue was down 94.6% on a year-over-year basis. Equities research analysts forecast that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, CEO Backer Marianne De sold 79,712 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total transaction of $474,286.40. Following the transaction, the chief executive officer now directly owns 769,505 shares of the company’s stock, valued at $4,578,554.75. This trade represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP purchased a new position in shares of Vir Biotechnology in the fourth quarter worth about $7,961,000. Artisan Partners Limited Partnership acquired a new stake in Vir Biotechnology in the 4th quarter valued at approximately $6,742,000. Point72 Asset Management L.P. grew its stake in shares of Vir Biotechnology by 16,169.5% in the fourth quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company’s stock worth $6,228,000 after acquiring an additional 843,239 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Vir Biotechnology by 58.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company’s stock worth $14,059,000 after acquiring an additional 703,360 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Vir Biotechnology by 55.3% in the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company’s stock worth $12,589,000 after acquiring an additional 610,367 shares in the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

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).