Vir Biotechnology, Inc. (NASDAQ:VIR) Receives $30.25 Average Target Price from Analysts

Key Points

• Vir Biotechnology, Inc. has received a consensus rating of "Moderate Buy" from eight analysts, with an average 1-year price target of $30.25.
• Institutional investors own 65.32% of the company's stock, indicating strong confidence in Vir Biotechnology's future potential.
• The company's latest earnings report showed revenues down 94.6% year-over-year, with a reported loss of ($0.88) earnings per share, missing estimates by ($0.05).

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $30.25.

A number of brokerages have recently issued reports on VIR. Raymond James Financial assumed coverage on Vir Biotechnology in a research note on Friday, July 11th. They set an "outperform" rating on the stock. The Goldman Sachs Group dropped their price target on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC restated a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd.

Vir Biotechnology Trading Up 1.3%

Shares of Vir Biotechnology stock traded up $0.07 on Friday, reaching $5.10. 133,403 shares of the company were exchanged, compared to its average volume of 1,589,752. Vir Biotechnology has a one year low of $4.32 and a one year high of $14.45. The company has a market capitalization of $704.33 million, a price-to-earnings ratio of -1.20 and a beta of 1.18. The company has a 50-day moving average of $5.30 and a 200 day moving average of $6.62.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.05). Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The company had revenue of $3.03 million for the quarter, compared to the consensus estimate of $8.59 million. During the same quarter in the prior year, the company earned ($0.48) EPS. The company's revenue for the quarter was down 94.6% on a year-over-year basis. Analysts predict that Vir Biotechnology will post -3.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Mark Eisner sold 6,796 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $5.47, for a total transaction of $37,174.12. Following the sale, the executive vice president directly owned 108,204 shares of the company's stock, valued at approximately $591,875.88. This represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total value of $112,200.00. Following the sale, the director directly owned 1,298,391 shares in the company, valued at approximately $6,621,794.10. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,582 shares of company stock worth $185,150. Insiders own 16.00% of the company's stock.

Institutional Trading of Vir Biotechnology

Several large investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Vir Biotechnology in the second quarter valued at about $289,000. Nordea Investment Management AB raised its position in Vir Biotechnology by 403.7% in the second quarter. Nordea Investment Management AB now owns 704,377 shares of the company's stock valued at $3,677,000 after purchasing an additional 564,537 shares during the last quarter. Allianz Asset Management GmbH raised its position in Vir Biotechnology by 6.2% in the second quarter. Allianz Asset Management GmbH now owns 327,700 shares of the company's stock valued at $1,652,000 after purchasing an additional 19,000 shares during the last quarter. Apollon Wealth Management LLC bought a new position in Vir Biotechnology in the second quarter valued at about $50,000. Finally, Aberdeen Group plc raised its position in Vir Biotechnology by 45.3% in the second quarter. Aberdeen Group plc now owns 1,006,891 shares of the company's stock valued at $5,075,000 after purchasing an additional 313,699 shares during the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

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).