Vir Biotechnology's (VIR) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright has reiterated a buy rating for Vir Biotechnology (NASDAQ:VIR) with a price target of $15.00, suggesting a potential upside of 212.17% from its current trading price.
• Analysts' consensus rating for Vir Biotechnology is "Moderate Buy," with a target price averaging $17.30 across multiple analysts, indicating strong market interest.
• The company recently reported a loss of $0.80 EPS for the last quarter, which was below consensus estimates, alongside a significant decrease in revenue year-over-year.

HC Wainwright reaffirmed their buy rating on shares of Vir Biotechnology (NASDAQ:VIR - Free Report) in a report issued on Monday,Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other analysts also recently commented on VIR. Raymond James Financial started coverage on Vir Biotechnology in a research note on Friday, July 11th. They issued an "outperform" rating on the stock. Needham & Company LLC reissued a "buy" rating and issued a $14.00 price objective on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Bank of America raised Vir Biotechnology from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th. Finally, Evercore ISI started coverage on Vir Biotechnology in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $17.30.

Vir Biotechnology Stock Performance

VIR stock remained flat at $5.18 during trading on Monday. The company's stock had a trading volume of 2,280,735 shares, compared to its average volume of 1,498,661. Vir Biotechnology has a one year low of $4.16 and a one year high of $14.45. The company has a fifty day simple moving average of $5.01 and a two-hundred day simple moving average of $5.48. The stock has a market capitalization of $719.61 million, a price-to-earnings ratio of -1.30 and a beta of 1.28.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.The business had revenue of $1.21 million for the quarter, compared to analyst estimates of $2.38 million. During the same quarter last year, the firm posted ($1.02) EPS. The company's revenue was down 60.5% compared to the same quarter last year. On average, analysts anticipate that Vir Biotechnology will post -3.92 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mark Eisner sold 6,796 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total transaction of $37,174.12. Following the completion of the sale, the executive vice president directly owned 108,204 shares in the company, valued at approximately $591,875.88. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $4.99, for a total transaction of $109,780.00. Following the completion of the transaction, the director owned 1,254,391 shares in the company, valued at approximately $6,259,411.09. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,382 shares of company stock valued at $388,550 over the last three months. 16.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vir Biotechnology during the 4th quarter worth about $42,000. Raymond James Financial Inc. acquired a new position in Vir Biotechnology in the second quarter worth approximately $35,000. GAMMA Investing LLC raised its position in Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after acquiring an additional 5,972 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in Vir Biotechnology in the second quarter valued at approximately $50,000. Finally, PNC Financial Services Group Inc. grew its position in Vir Biotechnology by 26.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock worth $68,000 after acquiring an additional 2,171 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company's stock.

About Vir Biotechnology

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company's preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).