JPMorgan Chase & Co. Issues Positive Forecast for Vir Biotechnology (NASDAQ:VIR) Stock Price

Vir Biotechnology (NASDAQ:VIR) had its target price raised by JPMorgan Chase & Co. from $10.00 to $14.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $20.00 in a research note on Thursday. Finally, Barclays decreased their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Vir Biotechnology Stock Up 58.2 %

Shares of VIR opened at $12.48 on Thursday. The business has a fifty day moving average of $8.18 and a 200 day moving average of $8.34. The company has a market cap of $1.72 billion, a PE ratio of -3.18 and a beta of 0.51. Vir Biotechnology has a 52-week low of $6.56 and a 52-week high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. During the same period in the prior year, the firm posted ($1.22) earnings per share. Vir Biotechnology’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, research analysts anticipate that Vir Biotechnology will post -3.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the transaction, the director now directly owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 14,786 shares of company stock worth $170,172. 15.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after buying an additional 2,351 shares in the last quarter. nVerses Capital LLC purchased a new position in Vir Biotechnology in the third quarter worth $56,000. Magnetar Financial LLC acquired a new position in shares of Vir Biotechnology during the second quarter worth $95,000. Quest Partners LLC lifted its holdings in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after purchasing an additional 7,452 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Vir Biotechnology in the 2nd quarter worth $119,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.

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).