Vir Biotechnology (NASDAQ:VIR) Shares Up 8% - Still a Buy?

Key Points

• Vir Biotechnology's stock rose 8% on Wednesday, reaching a last trading price of $5.40 following a significant drop in trading volume.
• Analysts are optimistic about Vir Biotechnology, with nine analysts rating the stock as a Buy and a consensus price target of $26.80, indicating potential for higher valuations.
• Despite the positive market response, the company reported a loss of $0.80 EPS for the last quarter, missing estimates and experiencing a 60.5% year-over-year revenue decline.

Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) rose 8% during trading on Wednesday . The company traded as high as $5.33 and last traded at $5.40. Approximately 222,507 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,582,231 shares. The stock had previously closed at $5.00.

Analyst Ratings Changes

VIR has been the subject of a number of analyst reports. Bank of America raised Vir Biotechnology from a "neutral" rating to a "buy" rating and increased their price target for the company from $12.00 to $14.00 in a research report on Wednesday, August 27th. Evercore ISI initiated coverage on Vir Biotechnology in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $12.00 price target for the company. Raymond James Financial initiated coverage on Vir Biotechnology in a research report on Friday, July 11th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $14.00 price target on shares of Vir Biotechnology in a research report on Thursday, May 22nd. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.80.

Vir Biotechnology Trading Down 1.5%

The firm has a fifty day simple moving average of $5.09 and a two-hundred day simple moving average of $5.69. The stock has a market cap of $720.99 million, a PE ratio of -1.30 and a beta of 1.28.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.08). The company had revenue of $1.21 million during the quarter, compared to analysts' expectations of $2.38 million. Vir Biotechnology had a negative return on equity of 50.22% and a negative net margin of 2,895.94%.Vir Biotechnology's revenue for the quarter was down 60.5% on a year-over-year basis. During the same period last year, the firm earned ($1.02) earnings per share. Equities analysts forecast that Vir Biotechnology, Inc. will post -3.92 earnings per share for the current year.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, EVP Mark Eisner sold 6,796 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was 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 approximately $591,875.88. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vicki L. Sato sold 22,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $4.99, for a total value of $109,780.00. Following the completion of the sale, the director directly owned 1,254,391 shares in the company, valued at $6,259,411.09. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,382 shares of company stock worth $388,550 over the last three months. Corporate insiders own 16.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of Vir Biotechnology in the second quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vir Biotechnology in the fourth quarter worth $42,000. GAMMA Investing LLC raised its stake in shares of Vir Biotechnology by 524.3% in the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock worth $46,000 after purchasing an additional 5,972 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Vir Biotechnology in the second quarter worth $50,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Vir Biotechnology by 2,200.6% in the second quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company's stock worth $62,000 after purchasing an additional 11,773 shares during 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).