Vir Biotechnology (NASDAQ:VIR) Shares Gap Down - What's Next?

Key Points

• Vir Biotechnology shares opened lower, falling from a prior close of $11.57 to $11.11 before trading at $11.8550. The company has a market capitalization of approximately $1.99 billion.
• Analyst sentiment is mixed but averages to a “Moderate Buy”, with an average price target of $21.86. Targets range from $22 at HC Wainwright to $25 at Morgan Stanley, while Weiss Ratings and Zacks Research maintain negative views.
• Vir reported quarterly EPS of $0.47, exceeding the $0.33 consensus estimate, while revenue reached $238.95 million—up sharply year over year and well above expectations. Institutional investors own 65.32% of the company.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) shares gapped down before the market opened on Wednesday. The stock had previously closed at $11.57, but opened at $11.11. Vir Biotechnology shares last traded at $11.8550, with a volume of 42,372 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on VIR. HC Wainwright upped their price objective on shares of Vir Biotechnology from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. Morgan Stanley set a $25.00 price objective on shares of Vir Biotechnology in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vir Biotechnology in a report on Friday, October 2nd. Wall Street Zen raised Vir Biotechnology from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Zacks Research lowered shares of Vir Biotechnology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $21.86.

Vir Biotechnology Stock Performance

The stock has a market capitalization of $1.99 billion, a PE ratio of -6.34 and a beta of 1.59. The stock's 50-day moving average price is $10.81 and its two-hundred day moving average price is $9.40.

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 the consensus estimate of $0.33 by $0.14. The company had revenue of $238.95 million during the quarter, compared to the consensus estimate of $135.88 million. The company's revenue was up 19582.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.80) earnings per share. On average, analysts predict that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Vir Biotechnology by 62.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 43,675 shares of the company's stock valued at $465,000 after buying an additional 16,834 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of 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 during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Vir Biotechnology by 384.9% in the 2nd quarter. Squarepoint Ops LLC now owns 126,141 shares of the company's stock worth $1,285,000 after buying an additional 100,128 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Vir Biotechnology by 29.9% in the second quarter. Arizona State Retirement System now owns 32,255 shares of the company's stock worth $329,000 after acquiring an additional 7,416 shares during the period. Finally, Corient Private Wealth LP grew its holdings in shares of Vir Biotechnology by 5.9% in the second quarter. Corient Private Wealth LP now owns 311,002 shares of the company's stock worth $3,169,000 after acquiring an additional 17,314 shares during the period. 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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