Vir Biotechnology’s (VIR) “Buy” Rating Reiterated at HC Wainwright

by · The Markets Daily

HC Wainwright reiterated their buy rating on shares of Vir Biotechnology (NASDAQ:VIR – Free Report) in a research note published on Monday,Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.

A number of other equities analysts also recently commented on VIR. Raymond James Financial assumed coverage on Vir Biotechnology in a research report on Friday, July 11th. They set an “outperform” rating on the stock. Bank of America upgraded shares of Vir Biotechnology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, August 27th. Evercore ISI initiated coverage on shares of Vir Biotechnology in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $12.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Vir Biotechnology in a research note on Thursday, May 22nd. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Vir Biotechnology presently has a consensus rating of “Moderate Buy” and an average target price of $17.30.

View Our Latest Report on VIR

Vir Biotechnology Stock Down 1.2%

Shares of NASDAQ VIR opened at $4.80 on Monday. The stock has a market capitalization of $666.82 million, a price-to-earnings ratio of -1.20 and a beta of 1.28. Vir Biotechnology has a 52 week low of $4.16 and a 52 week high of $14.45. The firm has a 50-day simple moving average of $5.03 and a 200-day simple moving average of $5.52.

Vir Biotechnology (NASDAQ:VIR – Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Vir Biotechnology had a negative net margin of 2,895.94% and a negative return on equity of 50.22%. The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $2.38 million. During the same quarter in the previous year, the company posted ($1.02) EPS. The firm’s revenue was down 60.5% on a year-over-year basis. As a group, equities research analysts expect that Vir Biotechnology will post -3.92 EPS for the current year.

Insiders Place Their Bets

In related news, Director Vicki L. Sato sold 22,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $4.99, for a total value of $109,780.00. Following the sale, the director owned 1,254,391 shares in the company, valued at approximately $6,259,411.09. The trade was a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Eisner sold 6,796 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $5.47, for a total value of $37,174.12. Following the transaction, the executive vice president owned 108,204 shares of the company’s stock, valued at $591,875.88. This trade represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,382 shares of company stock valued at $388,550 over the last ninety days. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Vir Biotechnology in the second quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vir Biotechnology in the fourth quarter valued at $42,000. GAMMA Investing LLC boosted its holdings 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 period. Apollon Wealth Management LLC acquired a new position in Vir Biotechnology during the 2nd quarter worth $50,000. Finally, Daiwa Securities Group Inc. increased its holdings in Vir Biotechnology by 2,200.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,308 shares of the company’s stock worth $62,000 after purchasing an additional 11,773 shares during the period. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

(Get Free Report)

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).

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