Vir Biotechnology (NASDAQ:VIR) Sets New 12-Month High – Here’s Why

Vir Biotechnology, Inc. (NASDAQ:VIR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.74 and last traded at $11.63, with a volume of 2777958 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Morgan Stanley set a $25.00 price target on shares of Vir Biotechnology in a research report on Thursday, August 6th. HC Wainwright reissued a “buy” rating on shares of Vir Biotechnology in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vir Biotechnology in a research note on Wednesday, July 8th. Finally, Leerink Partners boosted their price objective on shares of Vir Biotechnology from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.57.

Vir Biotechnology Stock Down 0.4%

The firm has a 50 day moving average of $9.71 and a two-hundred day moving average of $9.43. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -6.16 and a beta of 1.63.

Vir Biotechnology (NASDAQ:VIR) last issued its earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.33 by $0.14. The firm had revenue of $238.95 million during the quarter, compared to the consensus estimate of $135.88 million. Vir Biotechnology had a negative return on equity of 29.99% and a negative net margin of 638.88%.The business’s quarterly revenue was up 19582.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.80) earnings per share. Sell-side analysts forecast that Vir Biotechnology, Inc. will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Vir Biotechnology

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in Vir Biotechnology by 23.0% in the 4th quarter. CWM LLC now owns 8,804 shares of the company’s stock valued at $53,000 after purchasing an additional 1,646 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Vir Biotechnology by 7.8% during the fourth quarter. ProShare Advisors LLC now owns 23,525 shares of the company’s stock worth $142,000 after buying an additional 1,705 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Vir Biotechnology by 1.0% during the second quarter. Rhumbline Advisers now owns 228,949 shares of the company’s stock worth $1,154,000 after buying an additional 2,300 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Vir Biotechnology by 1.0% during the fourth quarter. Corient Private Wealth LLC now owns 262,211 shares of the company’s stock worth $1,572,000 after buying an additional 2,515 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Vir Biotechnology by 15.3% in the 1st quarter. Focus Partners Wealth now owns 19,317 shares of the company’s stock valued at $125,000 after acquiring an additional 2,566 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.

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.