Vir Biotechnology (NASDAQ:VIR) Price Target Increased to $31.00 by Barclays

Analysts at Barclays have raised the price target for shares of Vir Biotechnology (NASDAQ:VIR) from $26.00 to $31.00 in a report published on Friday. This adjustment reflects the brokerage's current "overweight" rating for the stock, which implies a significant potential upside of 269.49% based on the stock's previous closing price.

Investors have shown continued interest in Vir Biotechnology, with several other analysts also weighing in on the company's prospects. For instance, HC Wainwright reiterated a "buy" rating while setting an ambitious price target of $110.00. Additionally, Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating, increasing their price target from $10.00 to $20.00 in a recent research note.

Moreover, analysts from Needham & Company reaffirmed their "buy" rating with a target price of $19.00, while Leerink Partners raised their target from $18.00 to $20.00, designating the stock as "outperform." On the other hand, JPMorgan Chase & Co. raised its price objective from $10.00 to $14.00, maintaining a "neutral" rating.

The overall consensus indicates that Vir Biotechnology has attracted significant positive attention, with five analysts issuing a "buy" rating and only one assigning a "hold" rating. According to MarketBeat.com, the average rating stands at "Moderate Buy" with an average target price of $35.67.

Vir Biotechnology Stock Overview

On Friday, Vir Biotechnology's shares traded up by $0.28, reaching $8.39, with a trading volume of 1,422,825 shares. This figure is lower than the company's average volume of 2,495,305 shares. The stock has been experiencing fluctuations, with a 50-day moving average of $9.44 and a 200-day moving average of $8.50. The company's shares have seen a low of $6.56 and a high of $14.45 over the past twelve months, giving it a market capitalization of approximately $1.16 billion.

Recently, Vir Biotechnology reported its earnings for the last quarter, which ended on February 26. The company reported an earnings loss of ($0.76) per share, surpassing analyst expectations by $0.09. The revenue was $12.37 million, significantly higher than the anticipated $8.14 million, indicating strong performance despite the negative return on equity of 36.71% and a staggering net margin of -678.40%. Analysts project that the company will report earnings of -$3.92 per share for the current fiscal year.

Insider Transactions and Institutional Holdings

Further developments within the company include recent insider sales. Director Vicki L. Sato sold 10,960 shares on January 8 for an average price of $12.52, resulting in a transaction valued at $137,219.20. Post-transaction, Sato holds 1,312,391 shares, valued at approximately $16.43 million. Similarly, Director George A. Scangos sold 10,964 shares on February 18 at $9.81 each, totaling about $107,556.84.

Institutional trading shows significant involvement, with various hedge funds and institutional investors adjusting their positions in Vir Biotechnology. For instance, Blue Trust Inc. increased its holdings by 143.5% in the third quarter, while Point72 Asia acquired new shares in the fourth quarter. Other firms such as SBI Securities, PNC Financial Services, and KBC Group have also invested, demonstrating growing institutional confidence in the company. Currently, insiders hold 15.60% of the stock, while institutional investors own approximately 65.32% of shares.

About Vir Biotechnology

Vir Biotechnology, Inc. is focused on immunology and develops therapeutic products aimed at treating and preventing serious infectious diseases. Its pipeline consists of clinical candidates targeting various viruses including hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company is also exploring preclinical candidates for influenza, coronaviruses, respiratory syncytial virus (RSV), human metapneumovirus (MPV), and human papillomavirus (HPV).

Vir, Biotechnology, Stocks