Vir Biotechnology, Inc. (NASDAQ:VIR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Vir Biotechnology, Inc. (NASDAQ:VIR) has received a consensus rating of "Moderate Buy" from analyst coverage, with nine out of eleven brokerages assigning buy ratings.
• The company's 12-month price target from analysts is set at $17.30, indicating potential growth from its current trading level.
• Vir Biotechnology recently reported a quarterly loss of $0.80 earnings per share, missing estimates and reflecting a significant decline in revenue of 60.5% year-over-year.

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.30.

A number of equities research analysts have recently weighed in on VIR shares. HC Wainwright restated a "buy" rating and issued a $15.00 price objective on shares of Vir Biotechnology in a report on Monday, September 15th. Evercore ISI began coverage on shares of Vir Biotechnology in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price objective on the stock. Raymond James Financial began coverage on shares of Vir Biotechnology in a research note on Friday, July 11th. They set an "outperform" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vir Biotechnology in a research note on Tuesday. Finally, Bank of America upgraded shares of Vir Biotechnology from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, August 27th.

Vir Biotechnology Trading Down 2.4%

Shares of VIR opened at $5.72 on Wednesday. Vir Biotechnology has a twelve month low of $4.16 and a twelve month high of $14.45. The firm's fifty day simple moving average is $5.08 and its 200-day simple moving average is $5.28. The firm has a market capitalization of $794.62 million, a price-to-earnings ratio of -1.43 and a beta of 1.27.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) earnings per share 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 firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. During the same quarter in the previous year, the business posted ($1.02) earnings per share. Vir Biotechnology's revenue for the quarter was down 60.5% compared to the same quarter last year. On average, analysts predict that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Vir Biotechnology

In related news, major shareholder Endurance (Cayman) Ltd Svf sold 249,060 shares of Vir Biotechnology stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $6.14, for a total transaction of $1,529,228.40. Following the sale, the insider directly owned 15,372,309 shares in the company, valued at $94,385,977.26. This trade represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $5.84, for a total transaction of $128,480.00. Following the sale, the director owned 1,232,391 shares in the company, valued at $7,197,163.44. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,383,618 shares of company stock worth $8,060,282 over the last quarter. 16.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Clarius Group LLC increased its stake in Vir Biotechnology by 0.3% in the third quarter. Clarius Group LLC now owns 619,312 shares of the company's stock valued at $3,536,000 after purchasing an additional 1,777 shares during the period. PNC Financial Services Group Inc. increased its stake in Vir Biotechnology by 26.2% in the first quarter. PNC Financial Services Group Inc. now owns 10,459 shares of the company's stock valued at $68,000 after purchasing an additional 2,171 shares during the period. Rhumbline Advisers increased its stake in Vir Biotechnology by 1.0% in the second quarter. Rhumbline Advisers now owns 228,949 shares of the company's stock valued at $1,154,000 after purchasing an additional 2,300 shares during the period. Focus Partners Wealth increased its stake in Vir Biotechnology by 15.3% in the first quarter. Focus Partners Wealth now owns 19,317 shares of the company's stock valued at $125,000 after purchasing an additional 2,566 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Vir Biotechnology by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,290 shares of the company's stock valued at $248,000 after purchasing an additional 3,209 shares during the period. 65.32% of the stock is currently 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).

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