Vir Biotechnology (NASDAQ:VIR) Upgraded at Raymond James Financial

Vir Biotechnology (NASDAQ:VIR - Get Free Report) was upgraded by analysts at Raymond James Financial to a "moderate buy" rating in a report released on Friday, July 11th, MarketBeat.com reports. The brokerage presently has a $12.00 price objective on the stock. Raymond James Financial's price objective indicates a potential upside of 129.01% from the company's previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group reduced their price target 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Vir Biotechnology in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.25.

Vir Biotechnology Stock Performance

Shares of Vir Biotechnology stock opened at $5.24 on Friday. The business's 50 day simple moving average is $5.28 and its 200 day simple moving average is $6.74. Vir Biotechnology has a 52-week low of $4.32 and a 52-week high of $14.45. The firm has a market cap of $724.38 million, a PE ratio of -1.24 and a beta of 1.22.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.05). The company had revenue of $3.03 million for the quarter, compared to analyst estimates of $8.59 million. Vir Biotechnology had a negative return on equity of 47.46% and a negative net margin of 2,769.04%. The firm's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.48) EPS. As a group, equities research analysts predict that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Activity at Vir Biotechnology

In related news, Director Vicki L. Sato sold 22,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $5.10, for a total transaction of $112,200.00. Following the completion of the sale, the director directly owned 1,298,391 shares of the company's stock, valued at approximately $6,621,794.10. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Eisner sold 6,796 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total value of $37,174.12. Following the sale, the executive vice president directly owned 108,204 shares of the company's stock, valued at $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,582 shares of company stock worth $185,150. Corporate insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP purchased a new position in Vir Biotechnology during the fourth quarter worth about $7,961,000. Artisan Partners Limited Partnership bought a new stake in Vir Biotechnology during the fourth quarter worth about $6,742,000. Point72 Asset Management L.P. lifted its stake in Vir Biotechnology by 16,169.5% during the fourth quarter. Point72 Asset Management L.P. now owns 848,454 shares of the company's stock worth $6,228,000 after purchasing an additional 843,239 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Vir Biotechnology by 58.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock valued at $14,059,000 after acquiring an additional 703,360 shares during the period. Finally, Millennium Management LLC boosted its holdings in Vir Biotechnology by 55.3% during the 4th quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock valued at $12,589,000 after acquiring an additional 610,367 shares during the period. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

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).