Wall Street Zen upgraded shares of Vir Biotechnology (NASDAQ:VIR – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.
A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research note on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. HC Wainwright upped their price objective on shares of Vir Biotechnology from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Needham & Company LLC increased their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Vir Biotechnology in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.14.
Read Our Latest Stock Report on VIR
Vir Biotechnology Trading Up 11.8%
Shares of VIR stock opened at $13.65 on Friday. Vir Biotechnology has a 12-month low of $5.22 and a 12-month high of $14.38. The business’s 50 day moving average is $11.09 and its two-hundred day moving average is $9.65. The company has a market capitalization of $2.31 billion, a P/E ratio of -10.83 and a beta of 1.70.
Vir Biotechnology (NASDAQ:VIR – Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.18. The business had revenue of ($0.19) million during the quarter, compared to analysts’ expectations of $0.98 million. The firm’s quarterly revenue was down 178.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.17) earnings per share. On average, research analysts predict that Vir Biotechnology will post -1.56 earnings per share for the current fiscal year.
Insider Activity at Vir Biotechnology
In related news, EVP Vanina de Verneuil sold 2,407 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $11.10, for a total value of $26,717.70. Following the completion of the transaction, the executive vice president directly owned 110,193 shares of the company’s stock, valued at approximately $1,223,142.30. This represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.90% of the company’s stock.
Institutional Investors Weigh In On Vir Biotechnology
Large investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Vir Biotechnology by 3.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,468 shares of the company’s stock valued at $318,000 after buying an additional 900 shares in the last quarter. ProShare Advisors LLC grew its holdings in Vir Biotechnology by 6.4% during the third quarter. ProShare Advisors LLC now owns 24,507 shares of the company’s stock worth $274,000 after acquiring an additional 1,464 shares during the period. Allspring Global Investments Holdings LLC raised its position in Vir Biotechnology by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 55,135 shares of the company’s stock worth $616,000 after acquiring an additional 2,164 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Vir Biotechnology by 19.8% in the first quarter. Maryland State Retirement & Pension System now owns 16,163 shares of the company’s stock worth $145,000 after acquiring an additional 2,668 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Vir Biotechnology by 10.1% in the third quarter. Fifth Third Bancorp now owns 29,064 shares of the company’s stock worth $325,000 after acquiring an additional 2,669 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.
More Vir Biotechnology News
Here are the key news stories impacting Vir Biotechnology this week:
- Positive Sentiment: Vir said its elebsiran–tobevibart combination met the primary endpoint in the pivotal Phase 3 ECLIPSE 1 trial, with reports indicating it also met key secondary endpoints. The result is an important step toward potentially bringing a hepatitis D treatment to market. Article: Vir hepatitis D drug succeeds in first pivotal study
- Positive Sentiment: Expanded Phase 2 SOLSTICE data showed deep, sustained viral suppression with the combination, alongside exploratory finite-treatment results. These findings add support to the program beyond the pivotal trial topline announcement. Article: Vir announces expanded Phase 2 SOLSTICE data
- Positive Sentiment: HC Wainwright reaffirmed its Buy rating and set a $22 price target, adding to bullish sentiment, though analyst targets are estimates and not guarantees. Article: HC Wainwright recommendations
- Neutral Sentiment: The Phase 3 win improves Vir’s competitive position, but its combination will still need to advance through regulatory review; Gilead is also a competitor in hepatitis D treatment. Article: Vir’s hepatitis delta combo tamps down virus as Gilead showdown looms
Vir Biotechnology Company Profile
Vir Biotechnology is a clinical-stage biopharmaceutical company focused on developing treatments for infectious diseases and cancer. Its research draws on immunology and includes approaches such as monoclonal antibodies, small-interfering RNA therapies and T-cell-based treatments.
The company’s pipeline has included programs targeting chronic hepatitis B and influenza, as well as investigational cancer therapies. Vir has also pursued research and development collaborations to advance its programs.
Historically, Vir partnered with GlaxoSmithKline to develop sotrovimab, an antibody treatment for COVID-19.
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