Morgan Stanley Upgrades Vir Biotechnology (NASDAQ:VIR) Stock Rating

On January 12, 2025, Morgan Stanley announced an upgrade for Vir Biotechnology (NASDAQ:VIR), moving its stock rating from equal weight to overweight. This upgrade reflects Morgan Stanley's increased optimism about the company's prospects, along with a revised price target of $20.00, a significant increase from the previous target of $10.00.

Several other equity research firms have also provided their insights on Vir Biotechnology. Needham & Company maintained a "buy" rating with a price target of $19.00, while HC Wainwright also kept a "buy" rating but set a substantially higher target price of $110.00. Barclays, however, lowered its price target from $28.00 to $26.00 but kept an "overweight" rating. Overall, Vir Biotechnology has received a rating of "Moderate Buy" from analysts, with a consensus target price of $37.80 according to MarketBeat.

Vir Biotechnology Stock Performance Overview

Vir Biotechnology's stock opened at $12.10 on the day following the Morgan Stanley upgrade. The company boasts a market capitalization of $1.67 billion and carries a price-to-earnings (P/E) ratio of -3.09. Its beta value stands at 0.51, indicating lower volatility compared to the market. In the past year, the stock has seen a low of $6.56 and a high of $14.45, and it has a 50-day moving average of $8.24 and a 200-day moving average of $8.36.

On October 31, 2024, the company reported its quarterly earnings, revealing a loss of $1.56 per share, which was below the consensus estimate loss of $1.05. Additionally, revenue for the quarter stood at $2.38 million, falling short of the expected $5.54 million. The firm experienced a year-over-year revenue decrease of 9.8%. Analysts forecast an average EPS of -3.36 for the current year.

Insider Transactions and Shareholder Activity

Recent insider trading has been observed with Director Vicki L. Sato selling 10,960 shares on January 8 at an average price of $12.52, totaling approximately $137,219. After this sale, she owns around 1,312,391 shares valued at roughly $16.43 million, reflecting a decrease of 0.83% in her ownership. In total, insiders sold about 14,786 shares worth $170,172 over the past 90 days, and currently hold 15.60% of the company's stock.

Institutional Investor Activities

Several institutional investors have recently adjusted their stakes in Vir Biotechnology. State Street Corp increased its holdings by 10.4% during the third quarter, now owning over 5.6 million shares. Millennium Management raised its position significantly by 94.6% in the second quarter, acquiring an additional 606,804 shares. Other firms like Charles Schwab Investment Management, Bank of New York Mellon Corp, and Dimensional Fund Advisors have also raised their stakes, with institutional ownership now at 65.32% of the company's total shares.

About Vir Biotechnology

Vir Biotechnology, Inc. is an immunology-focused company that develops treatments for serious infectious diseases. Its pipeline includes candidates aimed at combating hepatitis delta virus (HDV), hepatitis B virus (HBV), and HIV. Additionally, the company is working on preclinical programs targeting various viruses including influenza, COVID-19, and respiratory syncytial virus (RSV).

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