Vir Biotechnology (NASDAQ:VIR – Get Rating) had its price target dropped by SVB Leerink from $45.00 to $43.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. SVB Leerink's target price would suggest a potential upside of 39.38% from the company's current price.
A number of other analysts have also commented on the company. Needham & Company LLC reduced their target price on Vir Biotechnology from $35.00 to $32.00 and set a "buy" rating for the company in a report on Friday, November 4th. Morgan Stanley raised Vir Biotechnology from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $18.00 to $30.00 in a report on Friday. Finally, TheStreet raised Vir Biotechnology from a "d" rating to a "c-" rating in a report on Monday, October 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.17.
Get Vir Biotechnology alerts:Vir Biotechnology Stock Performance
Shares of VIR stock opened at $30.85 on Friday. The firm has a market cap of $4.11 billion, a P/E ratio of 3.63 and a beta of 0.15. Vir Biotechnology has a fifty-two week low of $18.05 and a fifty-two week high of $35.48. The business's 50 day moving average price is $26.59 and its 200-day moving average price is $25.11.
Vir Biotechnology (NASDAQ:VIR – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $1.29. The business had revenue of $374.56 million during the quarter, compared to the consensus estimate of $153.79 million. As a group, equities analysts predict that Vir Biotechnology will post 4.61 EPS for the current year.Insider Buying and Selling at Vir Biotechnology
In other Vir Biotechnology news, Director Vicki L. Sato sold 17,915 shares of the business's stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $27.38, for a total transaction of $490,512.70. Following the completion of the sale, the director now owns 1,399,004 shares of the company's stock, valued at $38,304,729.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vir Biotechnology news, Director Vicki L. Sato sold 17,915 shares of the business's stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $27.38, for a total transaction of $490,512.70. Following the completion of the sale, the director now owns 1,399,004 shares of the company's stock, valued at $38,304,729.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Endurance (Cayman) Ltd Svf sold 132,978 shares of the business's stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $27.22, for a total value of $3,619,661.16. Following the completion of the transaction, the insider now owns 21,953,302 shares in the company, valued at $597,568,880.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,316,352 shares of company stock valued at $35,377,784. Company insiders own 22.40% of the company's stock.
Hedge Funds Weigh In On Vir Biotechnology
Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Vir Biotechnology by 127.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the company's stock valued at $25,000 after acquiring an additional 560 shares in the last quarter. US Bancorp DE lifted its position in shares of Vir Biotechnology by 175.1% in the second quarter. US Bancorp DE now owns 982 shares of the company's stock worth $25,000 after buying an additional 625 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Vir Biotechnology in the third quarter worth about $25,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Vir Biotechnology in the second quarter worth about $36,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in shares of Vir Biotechnology in the third quarter worth about $42,000. 74.97% of the stock is currently owned by hedge funds and other institutional investors.
Vir Biotechnology Company Profile
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Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops Sotrovimab (VIR-7832), a SARS-CoV-2-neutralizing mAbs to treat and prevent COVID-19 infection under the Xevudy brand; VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; and VIR-1111 for the prevention of human immunodeficiency virus.
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