Brokerages Set Vir Biotechnology, Inc. (NASDAQ:VIR) Price Target at $32.86

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.86.

A number of analysts have commented on VIR shares. The Goldman Sachs Group cut their price target on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Barclays increased their price objective on shares of Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, HC Wainwright reissued a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th.

Insider Activity at Vir Biotechnology

In related news, CEO Backer Marianne De sold 79,712 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.95, for a total value of $474,286.40. Following the transaction, the chief executive officer now owns 769,505 shares of the company's stock, valued at approximately $4,578,554.75. This trade represents a 9.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds have recently modified their holdings of VIR. Baker BROS. Advisors LP bought a new position in shares of Vir Biotechnology during the 4th quarter worth approximately $7,961,000. Artisan Partners Limited Partnership bought a new position in shares of Vir Biotechnology during the 4th quarter worth approximately $6,742,000. Point72 Asset Management L.P. lifted its position in shares of Vir Biotechnology by 16,169.5% during the 4th quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock worth $6,228,000 after buying an additional 843,239 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Vir Biotechnology by 58.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock worth $14,059,000 after buying an additional 703,360 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Vir Biotechnology by 55.3% during the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock worth $12,589,000 after buying an additional 610,367 shares in the last quarter. Institutional investors own 65.32% of the company's stock.

Vir Biotechnology Stock Down 0.6%

VIR traded down $0.03 during trading on Thursday, reaching $5.22. 794,018 shares of the stock traded hands, compared to its average volume of 1,383,257. The stock has a market capitalization of $721.60 million, a PE ratio of -1.33 and a beta of 1.24. The stock's 50-day moving average is $5.34 and its 200 day moving average is $7.40. Vir Biotechnology has a 12 month low of $4.32 and a 12 month high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.05). The firm had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business's revenue was down 94.6% compared to the same quarter last year. During the same period last year, the company posted ($0.48) EPS. As a group, equities research analysts anticipate that Vir Biotechnology will post -3.92 EPS for the current year.

About Vir Biotechnology

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company's preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).