Vir Biotechnology’s (VIR) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $110.00 price target on the stock.

Several other analysts also recently weighed in on VIR. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Friday. Barclays decreased their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Stock Up 1.2 %

Shares of VIR stock opened at $9.37 on Monday. The stock’s 50-day moving average is $7.77 and its two-hundred day moving average is $8.88. Vir Biotechnology has a fifty-two week low of $7.12 and a fifty-two week high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The company had revenue of $2.38 million for the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.22) EPS. On average, research analysts forecast that Vir Biotechnology will post -3.26 EPS for the current year.

Insiders Place Their Bets

In other Vir Biotechnology news, Director Janet Napolitano sold 12,190 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at approximately $90,604.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds have recently modified their holdings of VIR. Innealta Capital LLC acquired a new stake in shares of Vir Biotechnology in the 2nd quarter valued at $32,000. Blue Trust Inc. lifted its holdings in Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after acquiring an additional 2,351 shares in the last quarter. nVerses Capital LLC bought a new position in Vir Biotechnology during the third quarter worth about $56,000. Magnetar Financial LLC bought a new position in Vir Biotechnology during the second quarter worth about $95,000. Finally, Headlands Technologies LLC bought a new position in Vir Biotechnology during the first quarter worth about $119,000. 65.32% of the stock is owned by institutional investors and hedge funds.

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).