Vir Biotechnology (NASDAQ:VIR) Trading 11.2% Higher

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) traded up 11.2% during mid-day trading on Thursday . The stock traded as high as $9.32 and last traded at $9.31. 595,315 shares changed hands during trading, a decline of 46% from the average session volume of 1,104,515 shares. The stock had previously closed at $8.37.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 6th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, June 5th. JPMorgan Chase & Co. raised their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC raised their price objective on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.14.

Vir Biotechnology Trading Up 9.4 %

The company’s fifty day simple moving average is $9.83 and its 200 day simple moving average is $9.83. The stock has a market capitalization of $1.25 billion, a P/E ratio of -2.21 and a beta of 0.48.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.51. The firm had revenue of $56.38 million during the quarter, compared to the consensus estimate of $11.71 million. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.06) EPS. Equities research analysts predict that Vir Biotechnology, Inc. will post -3.57 earnings per share for the current year.

Insider Activity

In other news, Director Saira Ramasastry sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total transaction of $43,800.00. Following the sale, the director now owns 14,619 shares in the company, valued at approximately $160,078.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

A number of large investors have recently added to or reduced their stakes in VIR. Vanguard Group Inc. boosted its stake in shares of Vir Biotechnology by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock valued at $123,709,000 after purchasing an additional 1,096,473 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of Vir Biotechnology by 1,975.0% during the third quarter. Hudson Bay Capital Management LP now owns 207,500 shares of the company’s stock valued at $1,944,000 after purchasing an additional 197,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vir Biotechnology by 268.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,902 shares of the company’s stock valued at $2,142,000 after purchasing an additional 155,196 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Vir Biotechnology during the fourth quarter valued at approximately $951,000. Finally, Nordea Investment Management AB raised its holdings in shares of Vir Biotechnology by 58.7% during the first quarter. Nordea Investment Management AB now owns 235,664 shares of the company’s stock valued at $2,408,000 after purchasing an additional 87,190 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.