Vir Biotechnology (NASDAQ:VIR) Trading Up 7.1% – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR) rose 7.1% on Monday . The company traded as high as $8.03 and last traded at $8.03. Approximately 140,410 shares were traded during trading, a decline of 68% from the average daily volume of 442,614 shares. The stock had previously closed at $7.50.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Wednesday, November 20th. Barclays cut their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three 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 $36.40.

Vir Biotechnology Stock Performance

The stock has a market capitalization of $1.72 billion, a PE ratio of -3.18 and a beta of 0.51. The stock’s 50 day moving average is $7.98 and its two-hundred day moving average is $8.28.

Vir Biotechnology (NASDAQ:VIR) last announced its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. During the same period last year, the business earned ($1.22) EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts expect that Vir Biotechnology, Inc. will post -3.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of 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 acquiring an additional 2,351 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Vir Biotechnology during the 3rd quarter valued at about $56,000. Magnetar Financial LLC acquired a new position in shares of Vir Biotechnology in the 2nd quarter valued at $95,000. Quest Partners LLC grew its stake in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Vir Biotechnology during the third quarter worth about $118,000. Institutional investors and hedge funds own 65.32% of the company’s stock.

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).