Vir Biotechnology (NASDAQ:VIR) Trading 4.8% Higher - Here's What Happened

Key Points

• Vir Biotechnology shares rose 4.8% to about $11.46 in Tuesday trading, although volume was 88% below the average session level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $21.57; individual targets include $21 from Leerink Partners and $25 from Morgan Stanley.
• The company exceeded quarterly expectations, reporting $0.47 in adjusted EPS versus $0.33 expected and $238.95 million in revenue versus $135.88 million forecast. Institutional investors own 65.32% of the stock, with BlackRock and ARCH Venture Management among recent buyers.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) shot up 4.8% during trading on Tuesday . The stock traded as high as $11.27 and last traded at $11.4620. Approximately 293,535 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,443,843 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VIR shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vir Biotechnology in a report on Wednesday, July 8th. HC Wainwright reaffirmed a "buy" rating on shares of Vir Biotechnology in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Vir Biotechnology from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Leerink Partners raised their target price on Vir Biotechnology from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given 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 $21.57.

Vir Biotechnology Price Performance

The company has a market cap of $1.93 billion, a PE ratio of -6.16 and a beta of 1.66. The company has a fifty day moving average price of $9.62 and a 200 day moving average price of $9.34.

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. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 29.99%. The business had revenue of $238.95 million for the quarter, compared to the consensus estimate of $135.88 million. During the same period in the previous year, the firm earned ($0.80) EPS. The company's quarterly revenue was up 19582.5% compared to the same quarter last year. As a group, sell-side analysts predict that Vir Biotechnology, Inc. will post -1.84 EPS for the current fiscal year.

Institutional Trading of Vir Biotechnology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Vir Biotechnology during the 2nd quarter worth $210,712,000. ARCH Venture Management LLC acquired a new stake in Vir Biotechnology in the second quarter worth about $129,353,521. GSK plc purchased a new position in shares of Vir Biotechnology in the 4th quarter valued at approximately $51,562,000. ADAR1 Capital Management LLC acquired a new position in shares of Vir Biotechnology in the 1st quarter valued at $24,593,000. Finally, Pictet Asset Management Holding SA grew its holdings in Vir Biotechnology by 10,878.9% during the first quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company's stock worth $13,268,000 after acquiring an additional 1,467,340 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company's pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.

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