Vir Biotechnology (NASDAQ:VIR) Lifted to “Hold” at Zacks Investment Research

Vir Biotechnology (NASDAQ:VIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Vir Biotechnology Inc. is a clinical-stage immunology company. It is focused on combining immunologic insights to treat and prevent serious infectious diseases. The company’s development pipeline consists of product candidates targeting the hepatitis B virus, influenza A, human immunodeficiency virus and tuberculosis. Vir Biotechnology Inc. is based in San Francisco, United States. “

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Vir Biotechnology from a “neutral” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, January 27th. The Goldman Sachs Group lifted their price objective on shares of Vir Biotechnology from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, March 3rd. Needham & Company LLC lifted their price objective on shares of Vir Biotechnology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 15th. HC Wainwright lifted their price objective on shares of Vir Biotechnology from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, March 15th. Finally, Barclays lifted their price objective on shares of Vir Biotechnology from $61.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.13.

Shares of NASDAQ:VIR opened at $45.55 on Thursday. The company’s fifty day moving average price is $55.45 and its 200 day moving average price is $40.81. Vir Biotechnology has a 12 month low of $25.31 and a 12 month high of $141.01. The firm has a market capitalization of $5.82 billion, a P/E ratio of -19.30 and a beta of -0.99.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Wednesday, February 24th. The company reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.13). Vir Biotechnology had a negative return on equity of 47.11% and a negative net margin of 339.61%. The company had revenue of $1.73 million for the quarter, compared to analyst estimates of $2.65 million. Research analysts anticipate that Vir Biotechnology will post -2.36 EPS for the current fiscal year.

In other Vir Biotechnology news, insider Jay Parrish sold 6,944 shares of the company’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $69.91, for a total value of $485,455.04. Following the sale, the insider now owns 224,536 shares of the company’s stock, valued at $15,697,311.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Herbert Virgin sold 3,805 shares of the company’s stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $29.36, for a total transaction of $111,714.80. Following the transaction, the executive vice president now directly owns 37,005 shares of the company’s stock, valued at approximately $1,086,466.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,719 shares of company stock worth $3,544,337. Company insiders own 37.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in VIR. Victory Capital Management Inc. increased its position in shares of Vir Biotechnology by 11.0% in the third quarter. Victory Capital Management Inc. now owns 9,898 shares of the company’s stock worth $340,000 after acquiring an additional 977 shares in the last quarter. State Street Corp increased its position in shares of Vir Biotechnology by 11.2% in the third quarter. State Street Corp now owns 928,830 shares of the company’s stock worth $31,887,000 after acquiring an additional 93,486 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Vir Biotechnology in the third quarter worth $2,946,000. Charles Schwab Investment Management Inc. increased its position in shares of Vir Biotechnology by 433.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 536,435 shares of the company’s stock worth $18,416,000 after acquiring an additional 435,872 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Vir Biotechnology by 19.6% in the third quarter. ProShare Advisors LLC now owns 7,685 shares of the company’s stock worth $264,000 after acquiring an additional 1,259 shares in the last quarter. 54.49% of the stock is owned by institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a clinical-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It develops VIR-2218 and VIR-3434 for the treatment of hepatitis B virus; VIR-2482 for the prevention of influenza A virus; VIR-1111 for the prevention of human immunodeficiency virus; and VIR-2020 for the prevention of tuberculosis.

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