Vir Biotechnology, Inc. (NASDAQ:VIR) Stock Has Consensus Target Price of $21.57

Vir Biotechnology, Inc. (NASDAQ:VIR) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.57.

A number of brokerages have recently weighed in on VIR. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Wednesday, July 8th. Morgan Stanley set a $25.00 price objective on shares of Vir Biotechnology in a research report on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Vir Biotechnology in a research note on Monday, September 28th. HC Wainwright reiterated a “buy” rating on shares of Vir Biotechnology in a report on Monday, August 10th. Finally, Wall Street Zen raised Vir Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Vir Biotechnology Stock Performance

Vir Biotechnology stock opened at $11.17 on Wednesday. The firm has a market capitalization of $1.89 billion, a P/E ratio of -6.01 and a beta of 1.59. The business has a 50-day moving average of $10.19 and a 200-day moving average of $9.71. Vir Biotechnology has a 1 year low of $4.82 and a 1 year high of $11.94.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The firm had revenue of $238.95 million during the quarter, compared to analyst estimates of $135.88 million. The business’s revenue was up 19582.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.80) earnings per share. Research analysts anticipate that Vir Biotechnology will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Vir Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the business. Fiduciary Financial Advisors acquired a new position in shares of Vir Biotechnology in the second quarter valued at approximately $29,000. Caxton Associates LLP acquired a new stake in Vir Biotechnology in the 1st quarter valued at $112,000. Amundi raised its holdings in Vir Biotechnology by 52.8% during the first quarter. Amundi now owns 15,315 shares of the company’s stock worth $137,000 after acquiring an additional 5,294 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Vir Biotechnology by 223.1% in the 1st quarter. Royal Bank of Canada now owns 15,355 shares of the company’s stock valued at $138,000 after buying an additional 10,603 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Vir Biotechnology by 7.8% in the fourth quarter. ProShare Advisors LLC now owns 23,525 shares of the company’s stock valued at $142,000 after acquiring an additional 1,705 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing treatments and preventive therapies for serious infectious diseases. The company uses immunologic insights, antibody technology, cellular approaches and other scientific platforms to address diseases in which the immune system plays a central role.

Vir’s research and development programs have included therapies for chronic hepatitis B, influenza, human immunodeficiency virus (HIV) and COVID-19. Its pipeline has included investigational antibody and immunomodulatory candidates such as tobevibart and elebsiran for hepatitis B, as well as programs designed to prevent or treat other viral infections.