Vir Biotechnology (NASDAQ:VIR) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Vir Biotechnology (NASDAQ:VIR) issued its quarterly earnings results on Wednesday. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09, Zacks reports. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business had revenue of $12.37 million for the quarter, compared to analysts’ expectations of $8.14 million.

Vir Biotechnology Price Performance

Shares of NASDAQ VIR traded down $0.50 during mid-day trading on Thursday, reaching $8.70. 609,468 shares of the company’s stock traded hands, compared to its average volume of 2,479,037. The business has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $8.50. The stock has a market cap of $1.20 billion, a P/E ratio of -2.21 and a beta of 0.63. Vir Biotechnology has a 1-year low of $6.56 and a 1-year high of $14.45.

Insider Buying and Selling

In other Vir Biotechnology news, Director George A. Scangos sold 10,964 shares of Vir Biotechnology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total transaction of $107,556.84. Following the transaction, the director now directly owns 708,295 shares of the company’s stock, valued at $6,948,373.95. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the sale, the director now owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,562 shares of company stock worth $259,693 in the last quarter. Insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VIR shares. Leerink Partners lifted their target price on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Morgan Stanley upgraded shares of Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $20.00 in a research note on Thursday, January 9th. JPMorgan Chase & Co. raised their price target on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Vir Biotechnology in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).