HC Wainwright Reaffirms "Buy" Rating for Vir Biotechnology (NASDAQ:VIR)

Key Points

• HC Wainwright reiterated its Buy rating on Vir Biotechnology and set a $22 price target, implying about 59.5% upside from the cited share price. Analysts’ consensus rating was Moderate Buy, with an average target of $22.14.
• Vir reported that its Phase 3 ECLIPSE 1 trial of elebsiran and tobevibart met its primary endpoint; expanded Phase 2 results also showed deep, sustained viral suppression. The results may support a path toward regulatory review, though approval is not assured.
• In its latest reported quarter, Vir’s loss per share of $0.57 was narrower than analysts expected, but revenue fell short of estimates and declined year over year.

Vir Biotechnology (NASDAQ:VIR - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $22.00 price objective on the stock. HC Wainwright's price target suggests a potential upside of 59.52% from the stock's current price.

VIR has been the topic of a number of other research reports. Zacks Research upgraded shares of Vir Biotechnology from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. Raymond James Financial reiterated a "strong-buy" rating on shares of Vir Biotechnology in a research note on Monday, September 28th. Morgan Stanley set a $25.00 price objective on Vir Biotechnology in a report on Thursday, August 6th. Finally, Wall Street Zen raised Vir Biotechnology from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.14.

Vir Biotechnology Price Performance

Shares of NASDAQ:VIR traded up $1.58 during midday trading on Monday, reaching $13.79. The company had a trading volume of 4,470,511 shares, compared to its average volume of 2,371,724. The stock's fifty day moving average price is $11.03 and its 200-day moving average price is $9.61. The stock has a market capitalization of $2.36 billion, a P/E ratio of -10.97 and a beta of 1.70. Vir Biotechnology has a one year low of $5.22 and a one year high of $14.38.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.18. The company had revenue of ($0.19) million for the quarter, compared to the consensus estimate of $0.98 million. The company's revenue was down 178.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) earnings per share. As a group, sell-side analysts forecast that Vir Biotechnology will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Vir Biotechnology

In related news, EVP Vanina de Verneuil sold 2,407 shares of the business's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $11.10, for a total transaction of $26,717.70. Following the completion of the sale, the executive vice president owned 110,193 shares of the company's stock, valued at $1,223,142.30. This represents a 2.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ACT Capital Partners L.P. bought a new position in shares of Vir Biotechnology during the third quarter valued at approximately $559,000. Russell Investments Group Ltd. raised its position in shares of Vir Biotechnology by 65.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 136,146 shares of the company's stock worth $1,522,000 after purchasing an additional 53,987 shares during the period. Fifth Third Bancorp raised its position in shares of Vir Biotechnology by 10.1% during the 3rd quarter. Fifth Third Bancorp now owns 29,064 shares of the company's stock worth $325,000 after purchasing an additional 2,669 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Vir Biotechnology by 58.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 28,033 shares of the company's stock worth $313,000 after purchasing an additional 10,346 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Vir Biotechnology by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 55,135 shares of the company's stock worth $616,000 after purchasing an additional 2,164 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Key Vir Biotechnology News

Here are the key news stories impacting Vir Biotechnology this week:

• Positive Sentiment: Vir said its pivotal Phase 3 ECLIPSE 1 trial of elebsiran and tobevibart met its primary endpoint. Reports also highlighted positive secondary-endpoint results, lifting expectations that the monthly treatment combination could become a meaningful option for people with chronic hepatitis delta. Vir Biotechnology Phase 3 ECLIPSE 1 announcement
• Positive Sentiment: Expanded Phase 2 SOLSTICE data showed deep, sustained viral suppression, with exploratory results also examining finite treatment. These findings reinforce the treatment’s potential beyond the Phase 3 headline. Vir Biotechnology expanded Phase 2 SOLSTICE data
• Positive Sentiment: Analyst coverage is also supportive: one report cited an average price target implying about 75.6% upside, while another noted a target increase to $20. Such targets are estimates, not guarantees, and depend on the drug’s development and commercial prospects. Zacks analyst price-target report
• Neutral Sentiment: The Phase 3 readout strengthens Vir’s path toward potential regulatory review, but trial success does not guarantee approval. Investors will look for detailed efficacy and safety data and updates on regulatory plans. Fierce Biotech report on Vir’s Phase 3 results

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir's research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.

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