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

HC Wainwright reissued their buy rating on shares of Vir Biotechnology (NASDAQ:VIR - Free Report) in a report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $110.00 target price on the stock.

VIR has been the subject of a number of other reports. Needham & Company LLC reiterated a buy rating and set a $15.00 target price on shares of Vir Biotechnology in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Vir Biotechnology from $10.00 to $12.00 and gave the company a neutral rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $33.57.

Vir Biotechnology Stock Down 2.8 %

Vir Biotechnology stock traded down $0.29 during trading hours on Tuesday, hitting $9.93. The stock had a trading volume of 807,406 shares, compared to its average volume of 1,049,567. The stock's 50-day moving average price is $9.76 and its 200-day moving average price is $9.63. The stock has a market capitalization of $1.34 billion, a P/E ratio of -2.48 and a beta of 0.47. Vir Biotechnology has a 12-month low of $7.61 and a 12-month high of $27.48.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative return on equity of 32.58% and a negative net margin of 677.69%. The business had revenue of $56.38 million for the quarter, compared to analysts' expectations of $11.71 million. During the same period in the prior year, the firm posted ($1.06) EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts expect that Vir Biotechnology will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, CFO Sung Lee sold 6,008 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $9.89, for a total transaction of $59,419.12. Following the transaction, the chief financial officer now owns 100,492 shares of the company's stock, valued at $993,865.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Sung Lee sold 6,008 shares of the business's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $9.89, for a total value of $59,419.12. Following the transaction, the chief financial officer now directly owns 100,492 shares in the company, valued at $993,865.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George A. Scangos sold 10,878 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.24, for a total value of $111,390.72. Following the sale, the director now owns 157,611 shares of the company's stock, valued at approximately $1,613,936.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,831 shares of company stock valued at $1,525,844. Company insiders own 15.60% of the company's stock.

Institutional Investors Weigh In On Vir Biotechnology

Several large investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its holdings in Vir Biotechnology by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 74,977 shares of the company's stock valued at $760,000 after buying an additional 1,012 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Vir Biotechnology by 9.2% in the first 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 increased its position in Vir Biotechnology by 6.0% in the fourth quarter. Arizona State Retirement System now owns 26,271 shares of the company's stock worth $264,000 after purchasing an additional 1,476 shares during the last quarter. Fifth Third Bancorp raised its stake in Vir Biotechnology by 69.3% during the third quarter. Fifth Third Bancorp now owns 3,941 shares of the company's stock valued at $37,000 after purchasing an additional 1,613 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Vir Biotechnology by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company's stock valued at $32,000 after purchasing an additional 1,692 shares during the last quarter. 65.32% of the stock is owned by institutional investors.

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.