Vir Biotechnology (NASDAQ:VIR) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Vir Biotechnology (NASDAQ:VIR) from a hold rating to a strong sell rating in a research note released on Tuesday,Zacks reports.

Several other equities research analysts have also recently issued reports on VIR. Wall Street Zen upgraded Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial reissued a “strong-buy” rating on shares of Vir Biotechnology in a report on Monday, September 28th. Morgan Stanley set a $25.00 target price on Vir Biotechnology in a research report on Thursday, August 6th. HC Wainwright lifted their price target on Vir Biotechnology from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.86.

Vir Biotechnology Stock Down 0.7%

VIR opened at $11.52 on Tuesday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -6.19 and a beta of 1.59. Vir Biotechnology has a 52-week low of $4.82 and a 52-week high of $11.94. The firm’s fifty day simple moving average is $10.36 and its two-hundred day simple moving average is $9.76.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Wednesday, August 5th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $238.95 million for the quarter, compared to analysts’ expectations of $135.88 million. During the same period in the prior year, the firm earned ($0.80) EPS. The firm’s revenue for the quarter was up 19582.5% on a year-over-year basis. On average, research analysts forecast that Vir Biotechnology will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC acquired a new position in shares of Vir Biotechnology during the 2nd quarter valued at about $25,034,000. Parkman Healthcare Partners LLC acquired a new stake in Vir Biotechnology during the second quarter worth about $4,843,000. ARCH Venture Management LLC purchased a new position in Vir Biotechnology during the second quarter worth about $129,353,521. Pictet Asset Management Holding SA raised its stake in Vir Biotechnology by 10,878.9% during the first quarter. Pictet Asset Management Holding SA now owns 1,480,828 shares of the company’s stock worth $13,268,000 after purchasing an additional 1,467,340 shares during the period. Finally, Candriam S.C.A. boosted its holdings in Vir Biotechnology by 10.1% in the 1st quarter. Candriam S.C.A. now owns 1,135,763 shares of the company’s stock valued at $10,176,000 after purchasing an additional 104,100 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

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.