Vir Biotechnology (NASDAQ:VIR) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• Vir Biotechnology shares rose 4.4%, trading above their 50-day moving average of $10.77 and reaching $11.10 before closing at $11.04.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $21.86, despite some sell and strong-sell ratings.
• The company exceeded quarterly expectations, reporting $0.47 in earnings per share versus $0.33 expected and $238.95 million in revenue, up sharply year over year; institutional investors and hedge funds own 65.32% of the stock.

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $10.77 and traded as high as $11.10. Vir Biotechnology shares last traded at $11.04, with a volume of 1,587,192 shares.

Wall Street Analysts Forecast Growth

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

Vir Biotechnology Stock Up 4.4%

The business has a 50-day moving average price of $10.77 and a 200-day moving average price of $9.37. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -5.94 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.14. The company had revenue of $238.95 million during the quarter, compared to analyst estimates of $135.88 million. During the same quarter last year, the business earned ($0.80) earnings per share. The firm's revenue for the quarter was up 19582.5% on a year-over-year basis. On average, equities research analysts forecast that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its position in Vir Biotechnology by 19.8% during the first quarter. Maryland State Retirement & Pension System now owns 16,163 shares of the company's stock worth $145,000 after buying an additional 2,668 shares in the last quarter. Fiduciary Financial Advisors purchased a new stake in Vir Biotechnology in the 2nd quarter valued at $29,000. Oregon Public Employees Retirement Fund grew its holdings in Vir Biotechnology by 18.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,768 shares of the company's stock valued at $231,000 after buying an additional 4,100 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Vir Biotechnology by 19.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,914 shares of the company's stock valued at $250,000 after buying an additional 4,493 shares in the last quarter. Finally, Amundi grew its holdings in Vir Biotechnology by 52.8% in the 1st quarter. Amundi now owns 15,315 shares of the company's stock valued at $137,000 after buying an additional 5,294 shares in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

About Vir Biotechnology

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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