Vir Biotechnology (NASDAQ:VIR) Reaches New 52-Week High - Should You Buy?

Key Points

• Vir Biotechnology shares reached a new 52-week high, trading as high as $12.19 and recently changing hands near $11.86. The stock’s 50-day and 200-day moving averages were $10.86 and $9.43, respectively.
• Analyst sentiment is mixed but leans positive, with an overall “Moderate Buy” rating and a consensus price target of $21.86. HC Wainwright raised its target to $22 and maintained a “buy” rating, while other firms issued hold, sell, or strong-sell views.
• The company exceeded quarterly expectations, reporting EPS of $0.47 versus the $0.33 consensus and revenue of $238.95 million versus $135.88 million expected. Institutional investors own 65.32% of the stock, although analysts expect a full-year loss of $1.84 per share.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) shares reached a new 52-week high on Thursday. The stock traded as high as $12.19 and last traded at $11.86, with a volume of 293,090 shares changing hands. The stock had previously closed at $11.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VIR shares. HC Wainwright lifted their target price on shares of Vir Biotechnology from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, October 7th. Wall Street Zen raised Vir Biotechnology from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Vir Biotechnology in a research note on Friday, October 2nd. Zacks Research lowered Vir Biotechnology from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 6th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Vir Biotechnology in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Vir Biotechnology presently has an average rating of "Moderate Buy" and a consensus price target of $21.86.

Vir Biotechnology Price Performance

The firm has a market capitalization of $2.00 billion, a P/E ratio of -6.33 and a beta of 1.59. The company's 50-day simple moving average is $10.86 and its two-hundred day simple moving average is $9.43.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.14. The business had revenue of $238.95 million for the quarter, compared to the consensus estimate of $135.88 million. The company's revenue was up 19582.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.80) EPS. Analysts predict that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

Institutional Trading of Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Vir Biotechnology during the 3rd quarter valued at $97,000. ProShare Advisors LLC boosted its holdings in Vir Biotechnology by 6.4% in the 3rd quarter. ProShare Advisors LLC now owns 24,507 shares of the company's stock worth $274,000 after buying an additional 1,464 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Vir Biotechnology in the 3rd quarter worth $438,000. China Universal Asset Management Co. Ltd. boosted its holdings in Vir Biotechnology by 62.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 43,675 shares of the company's stock worth $465,000 after buying an additional 16,834 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Vir Biotechnology by 183.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 19,688 shares of the company's stock worth $220,000 after buying an additional 12,731 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company's stock.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir's research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.

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