Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $34.38 Average Target Price from Brokerages

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.38.

A number of brokerages have recently issued reports on VIR. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on shares of Vir Biotechnology from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd.

Insider Activity at Vir Biotechnology

In related news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at $6,418,203.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the transaction, the chief executive officer now directly owns 678,457 shares in the company, valued at $6,418,203.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Hanly sold 2,711 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the completion of the transaction, the executive vice president now owns 132,069 shares of the company’s stock, valued at $1,327,293.45. The disclosure for this sale can be found here. Insiders sold 152,831 shares of company stock worth $1,525,844 over the last three months. 18.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently added to or reduced their stakes in VIR. Royal Bank of Canada increased its holdings in shares of Vir Biotechnology by 14.1% during the third quarter. Royal Bank of Canada now owns 4,125 shares of the company’s stock valued at $79,000 after acquiring an additional 510 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Vir Biotechnology by 0.6% during the third quarter. Commonwealth Equity Services LLC now owns 85,298 shares of the company’s stock valued at $1,644,000 after acquiring an additional 523 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Vir Biotechnology by 1.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 30,594 shares of the company’s stock valued at $774,000 after acquiring an additional 564 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Vir Biotechnology by 1.9% during the second quarter. State of Tennessee Treasury Department now owns 46,020 shares of the company’s stock valued at $1,129,000 after acquiring an additional 862 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Vir Biotechnology by 1.4% during the first quarter. Rhumbline Advisers now owns 64,769 shares of the company’s stock valued at $1,666,000 after acquiring an additional 915 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.

Vir Biotechnology Stock Down 4.5 %

NASDAQ VIR opened at $8.57 on Tuesday. Vir Biotechnology has a 52 week low of $7.72 and a 52 week high of $27.48. The company has a fifty day moving average of $10.20 and a two-hundred day moving average of $9.65.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Thursday, February 22nd. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.28. The firm had revenue of $16.80 million during the quarter, compared to analyst estimates of $11.18 million. Vir Biotechnology had a negative net margin of 713.69% and a negative return on equity of 34.92%. The business’s revenue was down 66.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) earnings per share. Equities analysts anticipate that Vir Biotechnology will post -4.04 EPS for the current fiscal year.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.