Vir Biotechnology’s (VIR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a report issued on Monday morning,Benzinga reports. Needham & Company LLC currently has a $14.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Barclays reissued an “overweight” rating and issued a $24.00 price objective on shares of Vir Biotechnology in a research note on Wednesday, February 4th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Vir Biotechnology in a research note on Tuesday, December 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Monday, December 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Vir Biotechnology has an average rating of “Moderate Buy” and an average price target of $16.00.

Vir Biotechnology Stock Down 0.9%

VIR opened at $7.44 on Monday. Vir Biotechnology has a 52 week low of $4.16 and a 52 week high of $10.01. The business has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $5.80. The company has a market cap of $1.04 billion, a PE ratio of -2.06 and a beta of 1.69.

Insider Activity at Vir Biotechnology

In other news, Director Vicki L. Sato sold 22,000 shares of Vir Biotechnology stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $7.71, for a total transaction of $169,620.00. Following the completion of the sale, the director directly owned 1,144,391 shares in the company, valued at approximately $8,823,254.61. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Endurance (Cayman) Ltd Svf sold 191,854 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $5.98, for a total value of $1,147,286.92. Following the sale, the insider directly owned 13,728,924 shares in the company, valued at $82,098,965.52. This trade represents a 1.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 917,858 shares of company stock worth $5,737,192 over the last 90 days. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Vir Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Vir Biotechnology by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,761 shares of the company’s stock worth $41,000 after buying an additional 1,390 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Vir Biotechnology during the third quarter worth about $38,000. Raymond James Financial Inc. acquired a new position in Vir Biotechnology during the second quarter worth about $35,000. Federated Hermes Inc. lifted its holdings in shares of Vir Biotechnology by 153.8% in 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 in the last quarter. Finally, CWM LLC grew its position in shares of Vir Biotechnology by 23.0% in the fourth 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. 65.32% of the stock is owned by institutional investors and hedge funds.

About Vir Biotechnology

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.