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

Vir Biotechnology (NASDAQ:VIR - Get Free Report) had its target price decreased by investment analysts at Needham & Company LLC from $19.00 to $14.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 162.47% from the company's current price.

A number of other analysts have also recently commented on VIR. The Goldman Sachs Group cut their price target 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. Barclays upped their price target 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. Leerink Partners increased 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. Finally, HC Wainwright reissued a "buy" rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Vir Biotechnology currently has an average rating of "Moderate Buy" and an average price target of $32.86.

Vir Biotechnology Price Performance

Shares of Vir Biotechnology stock traded up $0.24 during trading on Monday, hitting $5.33. The company's stock had a trading volume of 135,289 shares, compared to its average volume of 1,340,481. Vir Biotechnology has a 52 week low of $4.95 and a 52 week high of $14.45. The stock has a market cap of $736.43 million, a price-to-earnings ratio of -1.36 and a beta of 1.36. The stock has a 50-day moving average price of $6.28 and a two-hundred day moving average price of $7.94.

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

Insiders Place Their Bets

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the transaction, the director now owns 708,295 shares of the company's stock, valued at $6,948,373.95. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Verneuil Vanina De sold 7,373 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,611 shares of company stock valued at $663,525. Corporate insiders own 15.60% of the company's stock.

Institutional Investors Weigh In On Vir Biotechnology

Large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vir Biotechnology during the 4th quarter worth approximately $42,000. GAMMA Investing LLC grew its stake in Vir Biotechnology by 524.3% in the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after buying an additional 5,972 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Vir Biotechnology in the 4th quarter valued at approximately $60,000. PNC Financial Services Group Inc. grew its stake in Vir Biotechnology by 31.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock valued at $61,000 after buying an additional 1,999 shares in the last quarter. Finally, KBC Group NV grew its stake in Vir Biotechnology by 136.5% in the 4th quarter. KBC Group NV now owns 8,970 shares of the company's stock valued at $66,000 after buying an additional 5,177 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).

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