Analysts Set Vir Biotechnology, Inc. (NASDAQ:VIR) Price Target at $34.38

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $34.38.

Several research analysts recently weighed in on VIR shares. JPMorgan Chase & Co. increased their price objective on Vir Biotechnology from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, February 23rd. HC Wainwright reiterated a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, March 15th.

Insider Buying and Selling

In related news, CEO Backer Marianne De sold 72,995 shares of the firm's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the transaction, the chief executive officer now owns 678,457 shares of the company's stock, valued at $6,418,203.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Sung Lee sold 6,008 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $9.89, for a total transaction of $59,419.12. Following the completion of the transaction, the chief financial officer now directly owns 100,492 shares in the company, valued at approximately $993,865.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now owns 678,457 shares of the company's stock, valued at $6,418,203.22. The disclosure for this sale can be found here. Insiders have sold a total of 152,831 shares of company stock valued at $1,525,844 over the last quarter. 18.10% of the stock is currently owned by insiders.

Institutional Trading of Vir Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP lifted its holdings in Vir Biotechnology by 1,975.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 207,500 shares of the company's stock worth $1,944,000 after buying an additional 197,500 shares in the last quarter. Barclays PLC raised its stake in shares of Vir Biotechnology by 124.6% in the 3rd quarter. Barclays PLC now owns 412,161 shares of the company's stock valued at $3,863,000 after purchasing an additional 228,634 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Vir Biotechnology by 205.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 153,494 shares of the company's stock valued at $1,438,000 after buying an additional 103,246 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Vir Biotechnology by 582.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 162,128 shares of the company's stock valued at $1,519,000 after buying an additional 138,387 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Vir Biotechnology during the 3rd quarter valued at about $1,098,000. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Price Performance

Vir Biotechnology stock traded up $0.04 during trading hours on Tuesday, hitting $9.53. 618,664 shares of the stock traded hands, compared to its average volume of 1,069,410. The firm's 50 day moving average price is $10.20 and its 200-day moving average price is $9.66. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.08 and a beta of 0.41. Vir Biotechnology has a 1 year low of $7.72 and a 1 year high of $27.48.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($1.14) by $0.28. The company had revenue of $16.80 million during the quarter, compared to analysts' expectations of $11.18 million. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. Vir Biotechnology's quarterly revenue was down 66.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.76) EPS. Research analysts forecast that Vir Biotechnology will post -4.04 earnings per share for the current fiscal year.

About Vir Biotechnology

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.