Vir Biotechnology, Inc. (NASDAQ:VIR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.83.

Several research firms recently issued reports on VIR. JPMorgan Chase & Co. increased their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. Leerink Partners increased their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, January 31st.

Vir Biotechnology Stock Up 1.8 %

Shares of VIR opened at $10.23 on Friday. The business has a 50-day simple moving average of $8.99 and a two-hundred day simple moving average of $8.52. Vir Biotechnology has a 52 week low of $6.56 and a 52 week high of $14.45. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -2.61 and a beta of 0.63.

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 completion of the transaction, the director now directly owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Vir Biotechnology by 10.4% in the 3rd quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after purchasing an additional 530,645 shares during the period. Alta Partners Management Company L.P. bought a new stake in Vir Biotechnology in the fourth quarter worth $3,593,000. abrdn plc purchased a new position in Vir Biotechnology during the fourth quarter worth $2,666,000. Charles Schwab Investment Management Inc. increased its position in Vir Biotechnology by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,276 shares of the company’s stock valued at $8,496,000 after acquiring an additional 136,087 shares during the last quarter. Finally, PDT Partners LLC raised its stake in shares of Vir Biotechnology by 34.4% in the third quarter. PDT Partners LLC now owns 220,821 shares of the company’s stock valued at $1,654,000 after acquiring an additional 56,494 shares during the period. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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).