Raymond James Financial began coverage on shares of Vir Biotechnology (NASDAQ:VIR - Free Report) in a research note published on Friday morning,Benzinga reports. The brokerage issued an outperform rating and a $12.00 price target on the stock.
VIR has been the subject of a number of other reports. Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Vir Biotechnology in a research note on Thursday, May 22nd. The Goldman Sachs Group lowered their target price on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Vir Biotechnology currently has an average rating of "Moderate Buy" and a consensus price target of $30.25.
Read Our Latest Research Report on Vir Biotechnology
Vir Biotechnology Stock Performance
Shares of NASDAQ VIR traded down $0.28 during midday trading on Friday, reaching $5.65. 1,245,010 shares of the company traded hands, compared to its average volume of 1,366,855. The firm has a market cap of $781.06 million, a PE ratio of -1.34 and a beta of 1.22. The stock's 50-day simple moving average is $5.16 and its 200-day simple moving average is $7.02. Vir Biotechnology has a 12 month low of $4.32 and a 12 month high of $14.45.
Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.03 million during the quarter, compared to analyst estimates of $8.59 million. During the same quarter last year, the business posted ($0.48) earnings per share. The business's quarterly revenue was down 94.6% compared to the same quarter last year. On average, equities research analysts expect that Vir Biotechnology will post -3.92 EPS for the current year.
Insider Buying and Selling
In related news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total value of $112,200.00. Following the completion of the sale, the director directly owned 1,298,391 shares in the company, valued at $6,621,794.10. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Vir Biotechnology
Institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vir Biotechnology during the 4th quarter worth about $42,000. GAMMA Investing LLC grew its position in shares of Vir Biotechnology by 524.3% during the 1st quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after buying an additional 5,972 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Vir Biotechnology by 31.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,288 shares of the company's stock worth $61,000 after buying an additional 1,999 shares during the period. Syon Capital LLC acquired a new position in shares of Vir Biotechnology during the 4th quarter worth about $77,000. Finally, FORA Capital LLC acquired a new position in shares of Vir Biotechnology in the 1st quarter valued at approximately $70,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.
Vir Biotechnology Company Profile
(
Get Free Report)
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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