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

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.86.

A number of brokerages have issued reports on VIR. The Goldman Sachs Group reduced their target price on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $14.00 price objective on shares of Vir Biotechnology in a report on Thursday, May 22nd.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $5.10, for a total value of $112,200.00. Following the completion of the transaction, the director owned 1,298,391 shares in the company, valued at $6,621,794.10. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VIR. State of Tennessee Department of Treasury boosted its holdings in Vir Biotechnology by 3.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 39,268 shares of the company's stock worth $288,000 after purchasing an additional 1,227 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Vir Biotechnology by 31.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock worth $61,000 after purchasing an additional 1,999 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Vir Biotechnology by 10.7% during the fourth quarter. Teacher Retirement System of Texas now owns 26,440 shares of the company's stock worth $194,000 after purchasing an additional 2,556 shares during the last quarter. Focus Partners Wealth boosted its holdings in Vir Biotechnology by 15.3% during the first quarter. Focus Partners Wealth now owns 19,317 shares of the company's stock worth $125,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Vir Biotechnology by 0.6% during the fourth quarter. Invesco Ltd. now owns 398,772 shares of the company's stock worth $2,927,000 after purchasing an additional 2,574 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company's stock.

Vir Biotechnology Stock Performance

VIR stock remained flat at $5.93 during trading on Monday. 2,061,012 shares of the company traded hands, compared to its average volume of 1,367,246. Vir Biotechnology has a 12-month low of $4.32 and a 12-month high of $14.45. The stock has a market cap of $819.76 million, a PE ratio of -1.41 and a beta of 1.22. The stock has a 50 day moving average of $5.17 and a 200 day moving average of $7.03.

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