Vir Biotechnology (NASDAQ:VIR) Price Target Lowered to $14.00 at Needham & Company LLC

Vir Biotechnology (NASDAQ:VIR - Get Free Report) had its target price reduced by equities research analysts at Needham & Company LLC from $19.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 204.35% from the company's previous close.

A number of other research firms also recently commented on VIR. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 target price on shares of Vir Biotechnology in a research report on Friday, February 28th. Barclays increased their target price on shares of Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price objective 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. Finally, Leerink Partners raised their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.86.

Vir Biotechnology Trading Up 1.1%

Shares of NASDAQ VIR traded up $0.05 during mid-day trading on Monday, reaching $4.60. The company had a trading volume of 1,307,211 shares, compared to its average volume of 1,370,489. The firm has a 50 day simple moving average of $5.97 and a two-hundred day simple moving average of $7.83. The stock has a market cap of $635.89 million, a P/E ratio of -1.17 and a beta of 1.36. Vir Biotechnology has a 52-week low of $4.32 and a 52-week high of $14.45.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its 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 company had revenue of $3.03 million during the quarter, compared to analysts' expectations of $8.59 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company's quarterly revenue was down 94.6% on a year-over-year basis. During the same period last year, the business earned ($0.48) earnings per share. On average, equities analysts expect that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Activity

In related news, EVP Verneuil Vanina De sold 7,373 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the sale, the executive vice president now owns 79,460 shares of the company's stock, valued at approximately $726,264.40. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Scangos sold 10,964 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total transaction of $107,556.84. Following the sale, the director now directly owns 708,295 shares in the company, valued at approximately $6,948,373.95. This represents a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,049 shares of company stock valued at $649,232 over the last quarter. Corporate insiders own 15.60% of the company's stock.

Institutional Trading of Vir Biotechnology

A number of institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP boosted its holdings in Vir Biotechnology by 245.6% during the first quarter. Woodline Partners LP now owns 466,737 shares of the company's stock worth $3,024,000 after buying an additional 331,701 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Vir Biotechnology by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 742,674 shares of the company's stock worth $4,813,000 after buying an additional 225,544 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Vir Biotechnology during the first quarter worth about $359,000. Cinctive Capital Management LP purchased a new stake in Vir Biotechnology during the first quarter worth about $547,000. Finally, AQR Capital Management LLC boosted its holdings in Vir Biotechnology by 2,088.4% during the first quarter. AQR Capital Management LLC now owns 268,297 shares of the company's stock worth $1,739,000 after buying an additional 256,037 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company's stock.

Vir Biotechnology Company Profile

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).