Vir Biotechnology (NASDAQ:VIR) Given New $21.00 Price Target at Leerink Partners

Vir Biotechnology (NASDAQ:VIR) had its price objective upped by Leerink Partners from $20.00 to $21.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently commented on VIR. Evercore restated an “outperform” rating and set a $18.00 target price on shares of Vir Biotechnology in a report on Tuesday, February 24th. Needham & Company LLC increased their target price on shares of Vir Biotechnology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Friday, April 10th. Morgan Stanley set a $23.00 target price on shares of Vir Biotechnology in a report on Friday, May 8th. Finally, Raymond James Financial upgraded shares of Vir Biotechnology from an “outperform” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.38.

Vir Biotechnology Price Performance

VIR opened at $8.77 on Wednesday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -2.80 and a beta of 1.65. The firm has a 50 day simple moving average of $9.49 and a 200 day simple moving average of $8.00. Vir Biotechnology has a fifty-two week low of $4.16 and a fifty-two week high of $11.66.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.84). The firm had revenue of ($0.03) million for the quarter, compared to analyst estimates of $55.49 million. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 53.31%. During the same quarter in the prior year, the firm posted ($0.88) EPS. As a group, analysts expect that Vir Biotechnology will post -1.81 EPS for the current year.

Insider Activity at Vir Biotechnology

In related news, CAO Brent Sabatini sold 7,711 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $9.12, for a total value of $70,324.32. Following the transaction, the chief accounting officer directly owned 61,902 shares in the company, valued at approximately $564,546.24. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Backer Marianne De sold 72,559 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $9.16, for a total transaction of $664,640.44. Following the sale, the chief executive officer owned 948,145 shares in the company, valued at $8,685,008.20. The trade was a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 127,849 shares of company stock valued at $1,189,426 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Vir Biotechnology in the 2nd quarter valued at approximately $35,000. FNY Investment Advisers LLC bought a new position in Vir Biotechnology in the 3rd quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Vir Biotechnology by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company’s stock valued at $41,000 after buying an additional 1,390 shares during the last quarter. UMB Bank n.a. raised its holdings in Vir Biotechnology by 1,418.7% in the 4th quarter. UMB Bank n.a. now owns 7,062 shares of the company’s stock valued at $43,000 after buying an additional 6,597 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in Vir Biotechnology by 153.8% in the 3rd quarter. Federated Hermes Inc. now owns 8,085 shares of the company’s stock valued at $46,000 after buying an additional 4,899 shares during the last quarter. 65.32% of the stock is currently 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.