Vir Biotechnology (NASDAQ:VIR) Price Target Raised to $14.00 at JPMorgan Chase & Co.

Vir Biotechnology (NASDAQ:VIR) had its price target increased by investment analysts at JPMorgan Chase & Co. from $10.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.18% from the stock’s current price.

A number of other research analysts have also commented on VIR. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Barclays reduced their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research note on Wednesday, November 20th. Finally, Morgan Stanley raised shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $20.00 in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Vir Biotechnology Stock Performance

Shares of Vir Biotechnology stock opened at $12.48 on Thursday. The company’s 50 day moving average price is $8.08 and its 200-day moving average price is $8.31. Vir Biotechnology has a 52-week low of $6.56 and a 52-week high of $14.45. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -3.18 and a beta of 0.51.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The firm had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. Vir Biotechnology’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned ($1.22) EPS. As a group, equities research analysts forecast that Vir Biotechnology will post -3.36 earnings per share for the current fiscal year.

Insider Transactions at Vir Biotechnology

In related news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the sale, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 14,786 shares of company stock valued at $170,172. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares in the last quarter. nVerses Capital LLC purchased a new position in Vir Biotechnology in the third quarter worth about $56,000. Magnetar Financial LLC bought a new position in shares of Vir Biotechnology in the second quarter worth approximately $95,000. Quest Partners LLC grew its holdings in shares of Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Vir Biotechnology during the third quarter valued at approximately $118,000. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

About Vir Biotechnology

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).