Vir Biotechnology (NASDAQ:VIR) Sets New 1-Year High – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR) shares reached a new 52-week high during trading on Monday . The company traded as high as $11.35 and last traded at $11.2010, with a volume of 450686 shares changing hands. The stock had previously closed at $10.75.

Analysts Set New Price Targets

Several research firms have issued reports on VIR. Leerink Partners restated an “outperform” rating and set a $20.00 price target on shares of Vir Biotechnology in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright upped their price target on shares of Vir Biotechnology from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Barclays upped their price target on shares of Vir Biotechnology from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley upped their price target on shares of Vir Biotechnology from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.38.

Vir Biotechnology Stock Up 4.8%

The stock’s fifty day moving average price is $8.98 and its two-hundred day moving average price is $7.17. The company has a market capitalization of $1.82 billion, a PE ratio of -3.57 and a beta of 1.66.

Vir Biotechnology (NASDAQ:VIR) last posted its earnings results on Monday, February 23rd. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.11. Vir Biotechnology had a negative net margin of 638.88% and a negative return on equity of 49.31%. The company had revenue of $64.07 million during the quarter, compared to analyst estimates of $19.91 million. During the same period in the prior year, the business posted ($0.76) earnings per share. Vir Biotechnology’s revenue for the quarter was up 417.8% on a year-over-year basis. On average, equities research analysts forecast that Vir Biotechnology, Inc. will post -3.92 EPS for the current year.

Insider Buying and Selling at Vir Biotechnology

In other news, CAO Brent Sabatini sold 7,711 shares of Vir Biotechnology stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $9.12, for a total transaction of $70,324.32. Following the completion of the transaction, the chief accounting officer directly owned 61,902 shares in the company, valued at approximately $564,546.24. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Verneuil Vanina De sold 13,700 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $9.82, for a total transaction of $134,534.00. Following the transaction, the executive vice president owned 112,982 shares of the company’s stock, valued at $1,109,483.24. The trade was a 10.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 257,816 shares of company stock valued at $2,326,218 over the last ninety days. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several large investors have recently made changes to their positions in VIR. Raymond James Financial Inc. purchased a new position in shares of Vir Biotechnology during the second quarter valued at approximately $35,000. FNY Investment Advisers LLC purchased a new position in shares of Vir Biotechnology during the third quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Vir Biotechnology by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company’s stock valued at $41,000 after purchasing an additional 1,390 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Vir Biotechnology by 1,418.7% during the fourth quarter. UMB Bank n.a. now owns 7,062 shares of the company’s stock valued at $43,000 after purchasing an additional 6,597 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Vir Biotechnology by 153.8% during the third quarter. Federated Hermes Inc. now owns 8,085 shares of the company’s stock valued at $46,000 after purchasing an additional 4,899 shares during 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 is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.