Vir Biotechnology (NASDAQ:VIR) Hits New 1-Year High on Analyst Upgrade

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $10.00 to $14.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Vir Biotechnology traded as high as $14.45 and last traded at $12.48, with a volume of 39456292 shares traded. The stock had previously closed at $7.89.

A number of other analysts also recently commented on VIR. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $20.00 in a report on Thursday. HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, Barclays lowered their price objective on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the sale, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. The trade was a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 14,786 shares of company stock valued at $170,172 over the last three months. 15.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Vir Biotechnology in the third quarter worth about $56,000. Magnetar Financial LLC bought a new position in shares of Vir Biotechnology in the second quarter valued at approximately $95,000. Quest Partners LLC grew its stake in Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after acquiring an additional 7,452 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in Vir Biotechnology during the 3rd quarter worth approximately $118,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Vir Biotechnology Stock Performance

The company’s 50 day simple moving average is $8.24 and its 200-day simple moving average is $8.36. The firm has a market capitalization of $1.67 billion, a PE ratio of -3.09 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter last year, the business posted ($1.22) EPS. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current fiscal year.

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).