Vir Biotechnology (NYSE:VIR) Raised to Hold at Zacks Investment Research
According to Zacks, “Vir Biotechnology Inc. is a clinical-stage immunology company. It is focused on combining immunologic insights to treat and prevent serious infectious diseases. The company’s development pipeline consists of product candidates targeting the hepatitis B virus, influenza A, human immunodeficiency virus and tuberculosis. Vir Biotechnology Inc. is based in San Francisco, United States. “
A number of other equities analysts have also issued reports on VIR. JPMorgan Chase & Co. lowered Vir Biotechnology from a neutral rating to an underweight rating and set a $26.00 price target on the stock. in a report on Thursday, March 19th. Goldman Sachs Group downgraded Vir Biotechnology from a buy rating to a neutral rating and set a $37.00 target price on the stock. in a research note on Friday, March 13th. Barclays upped their price target on Vir Biotechnology from $41.00 to $44.00 and gave the stock an overweight rating in a research note on Wednesday, May 13th. Finally, Robert W. Baird increased their price target on Vir Biotechnology from $17.00 to $20.00 and gave the stock an underperform rating in a report on Friday, March 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $32.40.
Vir Biotechnology (NYSE:VIR) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.18). The company had revenue of $5.72 million for the quarter, compared to analysts’ expectations of $3.21 million.
In other Vir Biotechnology news, CFO Howard Horn sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief financial officer now owns 227,777 shares of the company’s stock, valued at $11,388,850. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert J. More sold 18,458 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $28.00, for a total value of $516,824.00. The disclosure for this sale can be found here. Insiders have sold a total of 342,638 shares of company stock worth $12,356,225 in the last quarter.
Several hedge funds have recently bought and sold shares of VIR. Citigroup Inc. boosted its stake in shares of Vir Biotechnology by 83.0% during the 1st quarter. Citigroup Inc. now owns 2,645 shares of the company’s stock worth $91,000 after acquiring an additional 1,200 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in Vir Biotechnology during the first quarter worth $96,000. Morgan Stanley grew its holdings in Vir Biotechnology by 19.0% in the first quarter. Morgan Stanley now owns 18,386 shares of the company’s stock valued at $630,000 after purchasing an additional 2,934 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Vir Biotechnology by 51.6% in the first quarter. Bank of New York Mellon Corp now owns 19,617 shares of the company’s stock valued at $672,000 after buying an additional 6,674 shares in the last quarter. Finally, MYDA Advisors LLC acquired a new position in shares of Vir Biotechnology during the 1st quarter worth $257,000.
Vir Biotechnology Company Profile
Vir Biotechnology, Inc, a clinical-stage immunology company, develops therapeutic products for the treatment and prevention of serious infectious diseases. It develops VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; VIR-1111 for the prevention of human immunodeficiency virus, and VIR-2020 for the prevention of tuberculosis.
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