Vir Biotechnology (NASDAQ:VIR) Shares Gap Up – What’s Next?

Vir Biotechnology, Inc. (NASDAQ:VIR)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $10.61, but opened at $10.95. Vir Biotechnology shares last traded at $10.5730, with a volume of 602,823 shares changing hands.

Wall Street Analysts Forecast Growth

VIR has been the subject of a number of analyst reports. Raymond James Financial restated a “strong-buy” rating on shares of Vir Biotechnology in a research report on Monday, September 28th. Morgan Stanley set a $25.00 target price on shares of Vir Biotechnology in a report on Thursday, August 6th. Zacks Research downgraded shares of Vir Biotechnology from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. HC Wainwright boosted their price target on shares of Vir Biotechnology from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Finally, Wall Street Zen raised shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.86.

Vir Biotechnology Price Performance

The stock has a 50 day moving average of $10.54 and a two-hundred day moving average of $9.83. The stock has a market capitalization of $1.78 billion, a PE ratio of -5.66 and a beta of 1.59.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $238.95 million during the quarter, compared to analysts’ expectations of $135.88 million. The company’s revenue was up 19582.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.80) EPS. As a group, research analysts predict that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Trading of Vir Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fiduciary Financial Advisors purchased a new stake in Vir Biotechnology during the second quarter worth about $29,000. Caxton Associates LLP purchased a new position in Vir Biotechnology in the first quarter valued at about $112,000. Amundi increased its holdings in Vir Biotechnology by 52.8% in the first quarter. Amundi now owns 15,315 shares of the company’s stock valued at $137,000 after buying an additional 5,294 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Vir Biotechnology by 223.1% during the 1st quarter. Royal Bank of Canada now owns 15,355 shares of the company’s stock valued at $138,000 after acquiring an additional 10,603 shares during the period. Finally, Maryland State Retirement & Pension System lifted its position in shares of Vir Biotechnology by 19.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 16,163 shares of the company’s stock valued at $145,000 after acquiring an additional 2,668 shares during the period. Institutional investors and hedge funds own 65.32% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical-stage immunology company focused on developing treatments and preventive therapies for serious infectious diseases. The company uses immunologic insights, antibody technology, cellular approaches and other scientific platforms to address diseases in which the immune system plays a central role.

Vir’s research and development programs have included therapies for chronic hepatitis B, influenza, human immunodeficiency virus (HIV) and COVID-19. Its pipeline has included investigational antibody and immunomodulatory candidates such as tobevibart and elebsiran for hepatitis B, as well as programs designed to prevent or treat other viral infections.