Vir Biotechnology (NASDAQ:VIR) Stock Price Up 6.1% – Still a Buy?

Vir Biotechnology, Inc. (NASDAQ:VIR) shares traded up 6.1% during trading on Friday. The company traded as high as $11.53 and last traded at $11.8030. Approximately 104,131 shares traded hands during trading, a decline of 96% from the average session volume of 2,422,785 shares. The stock had previously closed at $11.12.

Key Stories Impacting Vir Biotechnology

Here are the key news stories impacting Vir Biotechnology this week:

• Positive Sentiment: The FDA granted Fast Track designation to VIR-5500, Vir Biotechnology and Astellas Pharma’s PSMA-targeted Pro-XTEN® dual-masked T-cell engager, for prostate cancer. Fast Track status can facilitate closer communication with regulators and potentially accelerate development and review, strengthening the investment case for Vir’s oncology pipeline. FDA Fast Track designation for VIR-5500
• Positive Sentiment: Vir appointed David Liu as executive vice president and chief medical officer, effective October 12. The addition of a new senior clinical leader may support execution across VIR-5500 and the company’s broader development programs. Appointment of David Liu
• Positive Sentiment: HC Wainwright reiterated its Buy rating and $22 price target, implying substantial potential appreciation relative to recent trading levels. The firm improved its FY2030 EPS forecast to a loss of $0.29 per share from a loss of $0.34, signaling expectations for improving long-term profitability. HC Wainwright forecast for Vir Biotechnology
• Neutral Sentiment: Investors are awaiting SOLSTICE Phase 2 hepatitis D virus data. Results could materially influence the company’s valuation by providing evidence for Vir’s infectious-disease pipeline, but the outcome remains uncertain. SOLSTICE Phase 2 data outlook
• Negative Sentiment: HC Wainwright modestly reduced its FY2028 and FY2029 EPS forecasts to losses of $1.71 and $1.26 per share, respectively. The changes are small, and the firm retained its Buy rating, but they highlight that Vir is still expected to remain unprofitable over the next several years.
• Negative Sentiment: Zacks Research downgraded Vir Biotechnology from Hold to Strong Sell, creating a more cautious counterpoint to HC Wainwright’s bullish view and potentially limiting investor enthusiasm.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VIR. Raymond James Financial reiterated a “strong-buy” rating on shares of Vir Biotechnology in a research report on Monday, September 28th. HC Wainwright raised 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. Morgan Stanley set a $25.00 price objective on shares of Vir Biotechnology in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Vir Biotechnology from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vir Biotechnology in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

Vir Biotechnology Stock Performance

The stock has a market cap of $1.99 billion, a P/E ratio of -6.30 and a beta of 1.59. The firm has a 50-day moving average price of $10.41 and a 200-day moving average price of $9.78.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. The firm had revenue of $238.95 million for the quarter, compared to the consensus estimate of $135.88 million. The company’s revenue for the quarter was up 19582.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. On average, research analysts predict that Vir Biotechnology, Inc. will post -1.84 earnings per share for the current year.

Institutional Trading of Vir Biotechnology

Hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System raised its holdings in Vir Biotechnology by 19.8% in the first quarter. Maryland State Retirement & Pension System now owns 16,163 shares of the company’s stock worth $145,000 after buying an additional 2,668 shares during the last quarter. Fiduciary Financial Advisors bought a new position in shares of Vir Biotechnology in the second quarter worth approximately $29,000. Diversified Trust Co grew its holdings in shares of Vir Biotechnology by 13.6% during the first quarter. Diversified Trust Co now owns 32,038 shares of the company’s stock valued at $287,000 after buying an additional 3,836 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Vir Biotechnology by 18.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,768 shares of the company’s stock valued at $231,000 after buying an additional 4,100 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Vir Biotechnology by 19.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,914 shares of the company’s stock valued at $250,000 after acquiring an additional 4,493 shares in the last quarter. Institutional investors own 65.32% of the company’s stock.

Vir Biotechnology Company Profile

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.