Vir Biotechnology (NASDAQ:VIR) Shares Gap Up – Still a Buy?

Shares of Vir Biotechnology, Inc. (NASDAQ:VIR) gapped up prior to trading on Wednesday . The stock had previously closed at $7.89, but opened at $12.55. Vir Biotechnology shares last traded at $11.61, with a volume of 10,778,855 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VIR shares. JPMorgan Chase & Co. raised their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Morgan Stanley raised Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $20.00 in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Friday. Finally, Barclays decreased their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.80.

Vir Biotechnology Trading Down 2.6 %

The business has a 50 day moving average price of $8.18 and a 200-day moving average price of $8.34. The firm has a market capitalization of $1.67 billion, a PE ratio of -3.10 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) 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 business had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter in the previous year, the company posted ($1.22) EPS. The company’s revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.36 earnings per share for the current year.

Insider Activity at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of Vir Biotechnology stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the transaction, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 14,786 shares of company stock worth $170,172 over the last 90 days. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIR. Millennium Management LLC grew its holdings in Vir Biotechnology by 94.6% in the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after purchasing an additional 606,804 shares during the period. State Street Corp grew its stake in Vir Biotechnology by 10.4% during the third quarter. State Street Corp now owns 5,625,533 shares of the company’s stock worth $42,135,000 after buying an additional 530,645 shares during the period. Federated Hermes Inc. increased its holdings in Vir Biotechnology by 19,327.1% in the 2nd quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock valued at $2,671,000 after purchasing an additional 298,603 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of Vir Biotechnology during the 2nd quarter valued at about $1,780,000. Finally, Cubist Systematic Strategies LLC grew its position in Vir Biotechnology by 6,402.0% in the second quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock valued at $1,679,000 after acquiring an additional 185,723 shares in the last quarter. 65.32% of the stock is currently owned by hedge funds and other 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).