Vir Biotechnology (NASDAQ:VIR) Shares Gap Up – What’s Next?

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) gapped up prior to trading on Wednesday. The stock had previously closed at $10.61, but opened at $10.95. Vir Biotechnology shares last traded at $10.5730, with a volume of 602,823 shares changing hands.

Wall Street Analysts Forecast Growth

VIR has been the topic of several recent research reports. Raymond James Financial restated a “strong-buy” rating on shares of Vir Biotechnology in a report on Monday, September 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Friday, October 2nd. Zacks Research downgraded Vir Biotechnology from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Morgan Stanley set a $25.00 target price on shares of Vir Biotechnology in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology currently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

Vir Biotechnology Price Performance

The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -5.66 and a beta of 1.59. The business’s 50 day moving average is $10.54 and its 200 day moving average is $9.83.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.14. The company had revenue of $238.95 million for the quarter, compared to analysts’ expectations of $135.88 million. The firm’s quarterly revenue was up 19582.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.80) EPS. As a group, analysts forecast that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

Institutional Trading of Vir Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in VIR. BlackRock Inc. acquired a new stake in Vir Biotechnology during the 2nd quarter worth approximately $210,712,000. ARCH Venture Management LLC purchased a new position in shares of Vir Biotechnology in the 2nd quarter valued at approximately $129,353,521. ADAR1 Capital Management LLC acquired a new position in shares of Vir Biotechnology in the first quarter valued at approximately $24,593,000. Dimensional Fund Advisors LP increased its holdings in shares of Vir Biotechnology by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,579,678 shares of the company’s stock valued at $23,107,000 after purchasing an additional 43,401 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Vir Biotechnology by 10,878.9% in the first quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company’s stock valued at $13,268,000 after purchasing an additional 1,467,340 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing treatments and preventive therapies for serious infectious diseases. The company uses immunologic insights, antibody technology, cellular approaches and other scientific platforms to address diseases in which the immune system plays a central role.

Vir’s research and development programs have included therapies for chronic hepatitis B, influenza, human immunodeficiency virus (HIV) and COVID-19. Its pipeline has included investigational antibody and immunomodulatory candidates such as tobevibart and elebsiran for hepatitis B, as well as programs designed to prevent or treat other viral infections.