Vir Biotechnology (NASDAQ:VIR) Given New $22.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised Vir Biotechnology’s price target to $22 from $20 and maintained a “buy” rating, implying approximately 90% upside from the stock’s $11.56 price.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $21.86, although one analyst maintains a sell rating.
• Vir reported quarterly EPS of $0.47, beating the $0.33 consensus estimate, while revenue reached $238.95 million—up nearly 19,600% year over year. Institutional investors own 65.32% of the company.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) had its target price upped by HC Wainwright from $20.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 90.25% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Vir Biotechnology from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Raymond James Financial restated a "strong-buy" rating on shares of Vir Biotechnology in a research report on Monday, September 28th. Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Vir Biotechnology in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.86.

Vir Biotechnology Stock Down 0.3%

Vir Biotechnology stock traded down $0.04 during mid-day trading on Wednesday, hitting $11.56. 248,558 shares of the company's stock traded hands, compared to its average volume of 2,413,916. The firm has a 50 day moving average price of $10.30 and a 200 day moving average price of $9.75. The company has a market cap of $1.96 billion, a PE ratio of -6.19 and a beta of 1.59. Vir Biotechnology has a one year low of $4.82 and a one year high of $11.94.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $238.95 million during the quarter, compared to the consensus estimate of $135.88 million. The company's revenue for the quarter was up 19582.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.80) EPS. On average, analysts expect that Vir Biotechnology will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of VIR. BlackRock Inc. acquired a new position in Vir Biotechnology in the second quarter worth approximately $210,712,000. ARCH Venture Management LLC acquired a new stake in shares of Vir Biotechnology during the 2nd quarter valued at $129,353,521. ADAR1 Capital Management LLC bought a new stake in shares of Vir Biotechnology during the 2nd quarter worth $25,034,000. Dimensional Fund Advisors LP boosted its stake in shares of Vir Biotechnology by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,579,678 shares of the company's stock worth $23,107,000 after acquiring an additional 43,401 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Vir Biotechnology by 10,878.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company's stock worth $13,268,000 after acquiring an additional 1,467,340 shares during the last quarter. 65.32% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.