Vir Biotechnology (NASDAQ:VIR) Shares Up 9.2% - Should You Buy?

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR - Get Free Report) were up 9.2% during trading on Wednesday . The stock traded as high as $5.71 and last traded at $5.79. Approximately 614,949 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,353,498 shares. The stock had previously closed at $5.30.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.86.

Vir Biotechnology Price Performance

The company has a market cap of $819.76 million, a P/E ratio of -1.41 and a beta of 1.22. The company has a fifty day simple moving average of $5.17 and a 200-day simple moving average of $7.04.

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

Insider Buying and Selling at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $5.10, for a total transaction of $112,200.00. Following the completion of the transaction, the director owned 1,298,391 shares of the company's stock, valued at approximately $6,621,794.10. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.00% of the company's stock.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vir Biotechnology in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC raised its position in Vir Biotechnology by 524.3% in the first quarter. GAMMA Investing LLC now owns 7,111 shares of the company's stock valued at $46,000 after purchasing an additional 5,972 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Vir Biotechnology by 31.8% during the fourth 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 last quarter. FORA Capital LLC acquired a new stake in shares of Vir Biotechnology during the 1st quarter worth approximately $70,000. Finally, Syon Capital LLC purchased a new stake in shares of Vir Biotechnology in the fourth quarter worth approximately $77,000. Institutional investors and hedge funds 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).