Vir Biotechnology (NASDAQ:VIR) Posts Earnings Results

Vir Biotechnology (NASDAQ:VIR) issued its earnings results on Thursday. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.51, Briefing.com reports. The company had revenue of $56.38 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.06) EPS.

Vir Biotechnology Trading Up 13.2 %

Shares of VIR traded up $1.21 during trading hours on Friday, hitting $10.39. 1,690,966 shares of the stock traded hands, compared to its average volume of 1,050,141. The business has a fifty day moving average of $9.82 and a 200-day moving average of $9.59. The firm has a market capitalization of $1.40 billion, a PE ratio of -2.26 and a beta of 0.47. Vir Biotechnology has a 1-year low of $7.61 and a 1-year high of $27.48.

Analysts Set New Price Targets

Several analysts have weighed in on VIR shares. JPMorgan Chase & Co. upped their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Vir Biotechnology in a report on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.63.

Insider Activity at Vir Biotechnology

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 transaction of $690,532.70. Following the completion of the sale, the chief executive officer now owns 678,457 shares in the company, valued at approximately $6,418,203.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Vir Biotechnology news, Director George A. Scangos sold 10,878 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.24, for a total transaction of $111,390.72. Following the transaction, the director now owns 157,611 shares in the company, valued at $1,613,936.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value 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 $6,418,203.22. The disclosure for this sale can be found here. Insiders have sold a total of 152,831 shares of company stock worth $1,525,844 over the last 90 days. Insiders own 15.60% of the company’s stock.

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.