Vir Biotechnology, Inc. (NASDAQ:VIR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Vir Biotechnology, Inc. has received a consensus rating of "Moderate Buy" from analysts, with nine out of ten recommending a buy and an average 12-month price target of $17.30.
• Following its latest earnings report, the company reported a loss of ($0.80) EPS, below expectations, alongside a revenue decline of 60.5% year-over-year.
• Recent insider transactions revealed executives reducing their stakes in the company, with 76,382 shares sold by insiders in the last three months.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.30.

Several equities research analysts have issued reports on VIR shares. Raymond James Financial started coverage on Vir Biotechnology in a report on Friday, July 11th. They set an "outperform" rating for the company. HC Wainwright reissued a "buy" rating and issued a $15.00 price objective on shares of Vir Biotechnology in a research report on Monday, September 15th. Bank of America upgraded shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and raised their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th. Finally, Evercore ISI started coverage on shares of Vir Biotechnology in a report on Wednesday, September 3rd. They set an "outperform" rating and a $12.00 target price for the company.

Vir Biotechnology Stock Performance

Vir Biotechnology stock traded down $0.04 during midday trading on Friday, reaching $5.23. 77,227 shares of the company's stock were exchanged, compared to its average volume of 1,553,509. The stock's 50-day simple moving average is $5.00 and its 200 day simple moving average is $5.42. The firm has a market cap of $727.11 million, a price-to-earnings ratio of -1.31 and a beta of 1.28. Vir Biotechnology has a 52 week low of $4.16 and a 52 week high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. During the same period in the previous year, the business earned ($1.02) earnings per share. The business's quarterly revenue was down 60.5% on a year-over-year basis. Research analysts forecast that Vir Biotechnology will post -3.92 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $4.99, for a total value of $109,780.00. Following the transaction, the director owned 1,254,391 shares of the company's stock, valued at approximately $6,259,411.09. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Eisner sold 6,796 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total value of $37,174.12. Following the transaction, the executive vice president owned 108,204 shares in the company, valued at approximately $591,875.88. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,382 shares of company stock valued at $388,550. Corporate insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds have recently bought and sold shares of VIR. Raymond James Financial Inc. acquired a new stake in Vir Biotechnology in the 2nd quarter worth about $35,000. GAMMA Investing LLC increased its holdings in shares of Vir Biotechnology by 524.3% during the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after purchasing an additional 5,972 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of Vir Biotechnology in the second quarter valued at approximately $50,000. Daiwa Securities Group Inc. raised its position in shares of Vir Biotechnology by 2,200.6% in the second quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company's stock valued at $62,000 after buying an additional 11,773 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Vir Biotechnology in the second quarter valued at approximately $63,000. 65.32% of the stock is owned by institutional investors.

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).