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

HC Wainwright reissued their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a report issued on Tuesday morning, Benzinga reports. HC Wainwright currently has a $110.00 target price on the stock. HC Wainwright also issued estimates for Vir Biotechnology’s Q3 2024 earnings at ($0.85) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($3.05) EPS, Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.81) EPS, Q3 2025 earnings at ($0.89) EPS, Q4 2025 earnings at ($0.55) EPS, FY2025 earnings at ($2.86) EPS, FY2026 earnings at ($2.06) EPS, FY2027 earnings at ($1.63) EPS and FY2028 earnings at ($0.57) EPS.

Several other analysts have also commented on the stock. Morgan Stanley lifted their price target on shares of Vir Biotechnology from $12.00 to $15.00 and gave the company an equal weight rating in a research report on Thursday, June 6th. Barclays lifted their target price on Vir Biotechnology from $27.00 to $28.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Needham & Company LLC increased their price target on Vir Biotechnology from $15.00 to $19.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a neutral rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $33.00.

Vir Biotechnology Stock Up 5.4 %

Shares of NASDAQ:VIR opened at $8.77 on Tuesday. Vir Biotechnology has a 52-week low of $7.61 and a 52-week high of $13.27. The stock has a market cap of $1.19 billion, a P/E ratio of -2.19 and a beta of 0.48. The business has a fifty day moving average of $9.20 and a two-hundred day moving average of $9.71.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13). Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.93%. The firm had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $7.53 million. During the same period in the prior year, the company posted ($1.45) EPS. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Vir Biotechnology will post -3.26 earnings per share for the current year.

Insider Activity

In other Vir Biotechnology news, Director Saira Ramasastry sold 4,000 shares of the business’s stock in a transaction dated 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 directly owns 14,619 shares in the company, valued at $160,078.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Vir Biotechnology

Several large investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp increased its position in shares of Vir Biotechnology by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 74,977 shares of the company’s stock valued at $760,000 after purchasing an additional 1,012 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Vir Biotechnology by 9.2% during the first quarter. Ballentine Partners LLC now owns 13,704 shares of the company’s stock worth $139,000 after purchasing an additional 1,160 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Vir Biotechnology by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 43,800 shares of the company’s stock valued at $390,000 after buying an additional 1,200 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Vir Biotechnology by 20.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,186 shares of the company’s stock valued at $113,000 after buying an additional 1,869 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Vir Biotechnology by 249.9% during the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $27,000 after buying an additional 1,934 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.