Vir Biotechnology (NASDAQ:VIR) Trading 7.6% Higher

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price rose 7.6% during mid-day trading on Friday . The stock traded as high as $8.22 and last traded at $8.21. Approximately 345,564 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,028,867 shares. The stock had previously closed at $7.63.

Analyst Ratings Changes

Several research firms recently weighed in on VIR. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their price objective on Vir Biotechnology from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.38.

Vir Biotechnology Trading Up 7.9 %

The company has a market cap of $1.11 billion, a price-to-earnings ratio of -1.76 and a beta of 0.41. The company has a fifty day moving average price of $9.98 and a two-hundred day moving average price of $9.59.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Thursday, February 22nd. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.28. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. The firm had revenue of $16.80 million during the quarter, compared to analysts’ expectations of $11.18 million. During the same period last year, the business earned ($0.76) earnings per share. Vir Biotechnology’s quarterly revenue was down 66.0% compared to the same quarter last year. Sell-side analysts anticipate that Vir Biotechnology, Inc. will post -4.04 EPS for the current fiscal year.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the transaction, the chief executive officer now owns 678,457 shares in the company, valued at approximately $6,418,203.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Phillip Pang sold 3,321 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the completion of the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at $2,710,312.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares in the company, valued at approximately $6,418,203.22. The disclosure for this sale can be found here. Insiders have sold a total of 152,831 shares of company stock valued at $1,525,844 over the last quarter. 18.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of 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 period. Quadrant Capital Group LLC boosted its stake in Vir Biotechnology by 274.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company’s stock valued at $30,000 after acquiring an additional 2,177 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Vir Biotechnology by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company’s stock valued at $32,000 after acquiring an additional 1,692 shares during the last quarter. Signaturefd LLC grew its holdings in Vir Biotechnology by 258.5% during the 4th quarter. Signaturefd LLC now owns 3,327 shares of the company’s stock worth $33,000 after acquiring an additional 2,399 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Vir Biotechnology by 69.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,941 shares of the company’s stock valued at $37,000 after acquiring an additional 1,613 shares during the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

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.