Vir Biotechnology (NASDAQ:VIR) Posts Earnings Results

Vir Biotechnology (NASDAQ:VIR) posted its quarterly earnings results on Thursday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51, Briefing.com reports. The firm had revenue of $56.38 million for the quarter, compared to analysts’ expectations of $11.71 million. Vir Biotechnology had a negative net margin of 713.69% and a negative return on equity of 34.92%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.06) earnings per share.

Vir Biotechnology Stock Performance

NASDAQ VIR traded up $1.21 on Friday, reaching $10.39. The company’s stock had a trading volume of 1,690,966 shares, compared to its average volume of 1,050,141. The firm’s 50 day moving average is $9.82 and its two-hundred day moving average is $9.59. The stock has a market cap of $1.40 billion, a PE ratio of -2.26 and a beta of 0.47. Vir Biotechnology has a twelve month low of $7.61 and a twelve month high of $27.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VIR shares. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Vir Biotechnology in a research report on Friday, March 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Vir Biotechnology in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.63.

Insider Buying and Selling

In other news, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at $6,418,203.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Hanly sold 2,711 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $10.05, for a total transaction of $27,245.55. Following the completion of the transaction, the executive vice president now directly owns 132,069 shares of the company’s stock, valued at approximately $1,327,293.45. The disclosure for this sale can be found here. Insiders have sold 152,831 shares of company stock worth $1,525,844 in the last ninety days. 15.60% of the stock is currently owned by corporate insiders.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.