Needham & Company LLC Reaffirms Buy Rating for Vir Biotechnology (NASDAQ:VIR)

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $14.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 86.42% from the stock’s current price.

Several other brokerages also recently weighed in on VIR. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Vir Biotechnology in a research report on Tuesday, December 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Monday, December 22nd. Finally, Barclays reissued an “overweight” rating and issued a $24.00 price objective on shares of Vir Biotechnology in a report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Vir Biotechnology Trading Up 3.2%

Shares of NASDAQ VIR opened at $7.51 on Monday. Vir Biotechnology has a 12-month low of $4.16 and a 12-month high of $10.01. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -2.08 and a beta of 1.69. The stock’s 50 day simple moving average is $6.57 and its 200 day simple moving average is $5.79.

Insider Buying and Selling

In other news, CFO Jason O’byrne sold 6,799 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $5.56, for a total value of $37,802.44. Following the sale, the chief financial officer owned 110,701 shares of the company’s stock, valued at approximately $615,497.56. The trade was a 5.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicki L. Sato sold 22,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $7.71, for a total value of $169,620.00. Following the completion of the sale, the director owned 1,144,391 shares of the company’s stock, valued at approximately $8,823,254.61. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 917,858 shares of company stock valued at $5,737,192 over the last quarter. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Vir Biotechnology by 2,088.4% in the 1st quarter. AQR Capital Management LLC now owns 268,297 shares of the company’s stock worth $1,739,000 after purchasing an additional 256,037 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Vir Biotechnology during the first quarter worth approximately $359,000. Goldman Sachs Group Inc. grew its position in Vir Biotechnology by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company’s stock worth $4,813,000 after buying an additional 225,544 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Vir Biotechnology by 245.6% in the first quarter. Woodline Partners LP now owns 466,737 shares of the company’s stock valued at $3,024,000 after buying an additional 331,701 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in shares of Vir Biotechnology by 15.3% during the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock valued at $125,000 after acquiring an additional 2,566 shares during the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.