Vir Biotechnology (NASDAQ:VIR) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Vir Biotechnology, Inc. (NASDAQ:VIR) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $10.77 and traded as high as $11.10. Vir Biotechnology shares last traded at $11.04, with a volume of 1,587,192 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on VIR. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Vir Biotechnology in a research note on Monday, September 28th. Wall Street Zen upgraded shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. HC Wainwright increased their price target on shares of Vir Biotechnology from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. Finally, Morgan Stanley set a $25.00 price objective on Vir Biotechnology in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $21.86.

Vir Biotechnology Stock Performance

The business’s 50 day moving average price is $10.77 and its 200-day moving average price is $9.37. The firm has a market capitalization of $1.87 billion, a PE ratio of -5.94 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $238.95 million for the quarter, compared to analysts’ expectations of $135.88 million. During the same period in the previous year, the business posted ($0.80) EPS. The business’s revenue for the quarter was up 19582.5% on a year-over-year basis. As a group, analysts anticipate that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VIR. Squarepoint Ops LLC boosted its position in shares of Vir Biotechnology by 384.9% during the second quarter. Squarepoint Ops LLC now owns 126,141 shares of the company’s stock worth $1,285,000 after buying an additional 100,128 shares during the period. Arizona State Retirement System grew its stake in shares of Vir Biotechnology by 29.9% in the second quarter. Arizona State Retirement System now owns 32,255 shares of the company’s stock valued at $329,000 after buying an additional 7,416 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of Vir Biotechnology by 5.9% in the 2nd quarter. Corient Private Wealth LP now owns 311,002 shares of the company’s stock valued at $3,169,000 after buying an additional 17,314 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Vir Biotechnology by 25.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,147 shares of the company’s stock valued at $1,673,000 after buying an additional 33,644 shares during the period. Finally, Empowered Funds LLC acquired a new position in Vir Biotechnology during the 2nd quarter worth about $180,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing medicines to prevent and treat serious infectious diseases and other immune-related conditions. The company uses antibody engineering, immunologic approaches and other technologies to identify and advance therapies designed to harness or modify the immune system.

Vir’s research and development programs have included treatments and vaccines for hepatitis B, human immunodeficiency virus (HIV), influenza and other infectious diseases.