Vir Biotechnology (NASDAQ:VIR) Price Target Raised to $12.00

Vir Biotechnology (NASDAQ:VIR - Get Free Report) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $10.00 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 15.50% from the company's current price.

Separately, HC Wainwright restated a "buy" rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.63.

Vir Biotechnology Stock Performance

Shares of NASDAQ VIR traded up $1.21 during trading on Friday, hitting $10.39. The company had a trading volume of 1,690,966 shares, compared to its average volume of 1,050,141. The firm has a market capitalization of $1.40 billion, a P/E ratio of -2.26 and a beta of 0.47. Vir Biotechnology has a 12 month low of $7.61 and a 12 month high of $27.48. The stock has a 50 day simple moving average of $9.82 and a 200 day simple moving average of $9.59.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.99) by $0.51. Vir Biotechnology had a negative net margin of 713.69% and a negative return on equity of 34.92%. The business had revenue of $56.38 million during the quarter, compared to analyst estimates of $11.71 million. During the same period last year, the firm posted ($1.06) EPS. The company's revenue was down 10.5% on a year-over-year basis. As a group, analysts predict that Vir Biotechnology will post -4.04 EPS for the current year.

Insider Transactions at Vir Biotechnology

In related news, EVP Ann M. Hanly sold 2,711 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.05, for a total value of $27,245.55. Following the completion of the sale, the executive vice president now owns 132,069 shares in the company, valued at approximately $1,327,293.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Ann M. Hanly sold 2,711 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.05, for a total value of $27,245.55. Following the completion of the sale, the executive vice president now owns 132,069 shares in the company, valued at approximately $1,327,293.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Phillip Pang sold 3,321 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $10.24, for a total transaction of $34,007.04. Following the completion of the sale, the executive vice president now owns 264,679 shares of the company's stock, valued at approximately $2,710,312.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,831 shares of company stock worth $1,525,844. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vir Biotechnology

Large investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its holdings in Vir Biotechnology by 9.2% in the 1st quarter. Ballentine Partners LLC now owns 13,704 shares of the company's stock valued at $139,000 after purchasing an additional 1,160 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Vir Biotechnology by 6.0% during the 4th quarter. Arizona State Retirement System now owns 26,271 shares of the company's stock worth $264,000 after acquiring an additional 1,476 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Vir Biotechnology by 69.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,941 shares of the company's stock worth $37,000 after acquiring an additional 1,613 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Vir Biotechnology by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company's stock valued at $32,000 after buying an additional 1,692 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Vir Biotechnology by 7.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 25,468 shares of the company's stock valued at $239,000 after buying an additional 1,700 shares during the period. 65.32% of the stock is owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.

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