Vir Biotechnology (NASDAQ:VIR) Rating Increased to Hold at Zacks Investment Research

Last updated on Thursday, June 17, 2021 | 2021 MarketBeat

Vir Biotechnology (NASDAQ:VIR) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, "Vir Biotechnology Inc. is a clinical-stage immunology company. It is focused on combining immunologic insights to treat and prevent serious infectious diseases. The company's development pipeline consists of product candidates targeting the hepatitis B virus, influenza A, human immunodeficiency virus and tuberculosis. Vir Biotechnology Inc. is based in San Francisco, United States. "

A number of other research firms have also recently commented on VIR. Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price objective on shares of Vir Biotechnology in a research report on Friday, April 16th. Barclays lifted their price objective on shares of Vir Biotechnology from $61.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, February 25th. HC Wainwright lifted their price objective on shares of Vir Biotechnology from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, March 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Vir Biotechnology from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, March 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of "Hold" and an average target price of $66.00.

NASDAQ VIR opened at $44.45 on Thursday. Vir Biotechnology has a 12-month low of $25.31 and a 12-month high of $141.01. The firm has a market capitalization of $5.78 billion, a P/E ratio of -14.39 and a beta of -1.72. The firm has a 50 day simple moving average of $44.92.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Thursday, May 6th. The company reported ($1.32) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.23) by ($1.09). The firm had revenue of $1.98 million for the quarter, compared to analyst estimates of $170.53 million. Vir Biotechnology had a negative return on equity of 56.90% and a negative net margin of 537.47%. Analysts anticipate that Vir Biotechnology will post -2.86 EPS for the current year.

In related news, Director Vicki L. Sato sold 15,174 shares of the business's stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $43.80, for a total value of $664,621.20. Following the completion of the transaction, the director now owns 1,660,782 shares of the company's stock, valued at $72,742,251.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Herbert Virgin sold 7,900 shares of the business's stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $53.60, for a total value of $423,440.00. Following the completion of the transaction, the executive vice president now directly owns 82,100 shares of the company's stock, valued at approximately $4,400,560. The disclosure for this sale can be found here. In the last three months, insiders sold 63,294 shares of company stock valued at $2,893,803. 37.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Vir Biotechnology by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,870 shares of the company's stock valued at $264,000 after purchasing an additional 274 shares in the last quarter. Principal Financial Group Inc. raised its stake in Vir Biotechnology by 0.7% during the first quarter. Principal Financial Group Inc. now owns 40,098 shares of the company's stock worth $2,056,000 after acquiring an additional 287 shares in the last quarter. Quantbot Technologies LP raised its stake in Vir Biotechnology by 250.0% during the first quarter. Quantbot Technologies LP now owns 700 shares of the company's stock worth $35,000 after acquiring an additional 500 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Vir Biotechnology by 1.6% during the fourth quarter. State of Wisconsin Investment Board now owns 75,500 shares of the company's stock worth $2,022,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Vir Biotechnology by 10.6% during the fourth quarter. Profund Advisors LLC now owns 14,379 shares of the company's stock worth $385,000 after acquiring an additional 1,377 shares in the last quarter. 59.49% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a clinical-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; VIR-1111 for the prevention of human immunodeficiency virus; and VIR-2020 for the prevention of tuberculosis.

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