Vir Biotechnology (NASDAQ:VIR) Posts Earnings Results, Beats Estimates By $0.51 EPS

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

Vir Biotechnology Trading Up 13.2 %

NASDAQ VIR traded up $1.21 during trading 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 has a 50 day moving average price of $9.82 and a 200 day moving average price of $9.59. Vir Biotechnology has a 12 month low of $7.61 and a 12 month high of $27.48. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.26 and a beta of 0.47.

Wall Street Analysts Forecast Growth

VIR has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, March 15th. Needham & Company LLC reissued 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 Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average target price of $34.63.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total value of $690,532.70. Following the completion of the transaction, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were 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 owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Phillip Pang sold 3,321 shares of Vir Biotechnology stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.24, for a total transaction of $34,007.04. Following the completion of the transaction, the executive vice president now directly owns 264,679 shares in the company, valued at $2,710,312.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is currently owned by company 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.