Vir Biotechnology (NASDAQ:VIR) Given Buy Rating at Needham & Company LLC

Vir Biotechnology (NASDAQ:VIR - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $14.00 price objective on the stock. Needham & Company LLC's price target indicates a potential upside of 200.75% from the company's current price.

VIR has been the topic of several other reports. HC Wainwright reissued a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on Vir Biotechnology from $28.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays raised their price objective on Vir Biotechnology from $26.00 to $31.00 and gave the company an "overweight" rating 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.86.

Vir Biotechnology Stock Performance

Vir Biotechnology stock traded up $0.16 during midday trading on Thursday, reaching $4.66. The stock had a trading volume of 468,149 shares, compared to its average volume of 1,380,415. Vir Biotechnology has a twelve month low of $4.32 and a twelve month high of $14.45. The stock has a market capitalization of $643.50 million, a PE ratio of -1.18 and a beta of 1.36. The stock's 50-day simple moving average is $5.67 and its 200 day simple moving average is $7.63.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.05). Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The company had revenue of $3.03 million during the quarter, compared to analysts' expectations of $8.59 million. During the same period last year, the business earned ($0.48) earnings per share. The company's revenue for the quarter was down 94.6% compared to the same quarter last year. Equities analysts predict that Vir Biotechnology will post -3.92 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In other news, EVP Verneuil Vanina De sold 7,373 shares of Vir Biotechnology stock in a transaction dated 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 directly owns 79,460 shares of the company's stock, valued at approximately $726,264.40. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Backer Marianne De sold 79,712 shares of Vir Biotechnology stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $5.95, for a total value of $474,286.40. Following the completion of the transaction, the chief executive officer now owns 769,505 shares of the company's stock, valued at $4,578,554.75. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of hedge funds and other institutional investors have recently bought and sold shares of VIR. Baker BROS. Advisors LP acquired a new position in Vir Biotechnology in the fourth quarter valued at approximately $7,961,000. Artisan Partners Limited Partnership acquired a new position in shares of Vir Biotechnology during the fourth quarter worth approximately $6,742,000. Point72 Asset Management L.P. boosted its position in shares of 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 buying an additional 843,239 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Vir Biotechnology by 58.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,915,465 shares of the company's stock worth $14,059,000 after buying an additional 703,360 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Vir Biotechnology by 55.3% during the fourth quarter. Millennium Management LLC now owns 1,715,083 shares of the company's stock worth $12,589,000 after buying an additional 610,367 shares during the period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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).