Vir Biotechnology (NYSE:VIR) Upgraded at Goldman Sachs Group
Goldman Sachs Group upgraded shares of Vir Biotechnology (NYSE:VIR) from a neutral rating to a buy rating in a research note released on Monday, Benzinga reports. They currently have $54.00 price target on the stock, up from their prior price target of $48.00.
Several other research firms also recently weighed in on VIR. HC Wainwright reissued a buy rating and issued a $75.00 target price on shares of Vir Biotechnology in a report on Monday, August 24th. Needham & Company LLC initiated coverage on Vir Biotechnology in a report on Thursday, August 20th. They issued a buy rating and a $62.00 target price for the company. Barclays boosted their target price on Vir Biotechnology from $44.00 to $61.00 and gave the company an overweight rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. upgraded Vir Biotechnology from an underweight rating to a neutral rating and dropped their price target for the company from $30.00 to $29.00 in a research report on Friday, September 11th. Finally, Zacks Investment Research upgraded Vir Biotechnology from a sell rating to a hold rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $48.00.
Shares of NYSE VIR opened at $32.96 on Monday. Vir Biotechnology has a 1 year low of $11.65 and a 1 year high of $75.00. The business has a 50-day moving average of $43.30 and a two-hundred day moving average of $38.95.
In other Vir Biotechnology news, CFO Howard Horn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the chief financial officer now owns 257,777 shares in the company, valued at approximately $10,311,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Herbert Virgin sold 3,510 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $38.00, for a total value of $133,380.00. Following the transaction, the executive vice president now owns 3,510 shares in the company, valued at approximately $133,380. The disclosure for this sale can be found here. Insiders sold a total of 268,245 shares of company stock worth $11,730,696 in the last 90 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors increased its position in Vir Biotechnology by 11.3% during the 1st quarter. Capital International Investors now owns 1,094,305 shares of the company’s stock worth $37,502,000 after purchasing an additional 111,005 shares during the period. Avidity Partners Management LP acquired a new position in Vir Biotechnology during the 2nd quarter worth approximately $25,426,000. BlackRock Inc. increased its position in Vir Biotechnology by 60.2% during the 1st quarter. BlackRock Inc. now owns 443,818 shares of the company’s stock worth $15,209,000 after purchasing an additional 166,769 shares during the period. Nuveen Asset Management LLC increased its position in Vir Biotechnology by 517.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 226,677 shares of the company’s stock worth $9,287,000 after purchasing an additional 189,973 shares during the period. Finally, Alps Advisors Inc. acquired a new position in Vir Biotechnology during the 2nd quarter worth approximately $6,589,000.
Vir Biotechnology Company Profile
Vir Biotechnology, Inc, a clinical-stage immunology company, develops therapeutic products for the treatment and prevention of serious infectious diseases. It develops VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; VIR-1111 for the prevention of human immunodeficiency virus, and VIR-2020 for the prevention of tuberculosis.
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