Vir Biotechnology (NASDAQ:VIR) Given New $31.00 Price Target at Barclays

Vir Biotechnology (NASDAQ:VIR) had its price objective lifted by Barclays from $26.00 to $31.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Leerink Partners increased their price objective on shares of Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research note on Thursday. HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Vir Biotechnology Stock Performance

Shares of NASDAQ VIR opened at $8.39 on Friday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -2.14 and a beta of 0.63. Vir Biotechnology has a fifty-two week low of $6.56 and a fifty-two week high of $14.45. The firm’s 50-day simple moving average is $9.46 and its 200 day simple moving average is $8.49.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.09. The firm had revenue of $12.37 million during the quarter, compared to analyst estimates of $8.14 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. On average, sell-side analysts predict that Vir Biotechnology will post -3.92 EPS for the current year.

Insider Transactions at Vir Biotechnology

In related news, EVP Verneuil Vanina De sold 7,373 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total value of $67,389.22. Following the completion of the transaction, the executive vice president now directly owns 79,460 shares of the company’s stock, valued at approximately $726,264.40. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George A. Scangos sold 10,964 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total transaction of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares of the company’s stock, valued at approximately $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,935 shares of company stock worth $327,082 in the last quarter. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Vir Biotechnology by 29.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,325 shares of the company’s stock worth $1,331,000 after buying an additional 40,954 shares during the period. Woodline Partners LP bought a new position in Vir Biotechnology in the 4th quarter valued at $991,000. Two Sigma Advisers LP boosted its holdings in Vir Biotechnology by 74.8% in the 4th quarter. Two Sigma Advisers LP now owns 74,800 shares of the company’s stock valued at $549,000 after purchasing an additional 32,000 shares during the period. Stonepine Capital Management LLC bought a new position in Vir Biotechnology in the 4th quarter valued at $1,205,000. Finally, Sphera Funds Management LTD. boosted its holdings in Vir Biotechnology by 523.4% in the 4th quarter. Sphera Funds Management LTD. now owns 581,829 shares of the company’s stock valued at $4,271,000 after purchasing an additional 488,500 shares during the period. 65.32% of the stock is owned by institutional investors.

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).