Vir Biotechnology (NASDAQ:VIR) Releases Earnings Results, Beats Expectations By $0.11 EPS

Vir Biotechnology (NASDAQ:VIR) announced its quarterly earnings results on Monday. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.11, Zacks reports. Vir Biotechnology had a negative net margin of 2,963.54% and a negative return on equity of 50.76%. The company had revenue of $64.07 million for the quarter, compared to analysts’ expectations of $19.91 million. During the same quarter in the previous year, the company earned ($0.76) earnings per share. Vir Biotechnology’s quarterly revenue was up 417.8% on a year-over-year basis.

Vir Biotechnology Trading Down 1.7%

VIR stock traded down $0.13 during midday trading on Monday, reaching $7.43. 6,104,194 shares of the company’s stock traded hands, compared to its average volume of 1,877,190. Vir Biotechnology has a 52-week low of $4.16 and a 52-week high of $9.84. The stock has a market cap of $1.03 billion, a P/E ratio of -2.06 and a beta of 1.69. The stock’s 50-day moving average is $6.73 and its 200 day moving average is $5.93.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Vicki L. Sato sold 22,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $7.71, for a total value of $169,620.00. Following the completion of the transaction, the director owned 1,144,391 shares of the company’s stock, valued at approximately $8,823,254.61. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Endurance (Cayman) Ltd Svf sold 191,854 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $5.98, for a total value of $1,147,286.92. Following the completion of the sale, the insider owned 13,728,924 shares of the company’s stock, valued at $82,098,965.52. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 684,786 shares of company stock valued at $4,310,319 over the last 90 days. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the business. GSK plc purchased a new stake in shares of Vir Biotechnology in the fourth quarter worth approximately $51,562,000. Balyasny Asset Management L.P. bought a new position in Vir Biotechnology in the 4th quarter valued at $8,252,000. State Street Corp increased its stake in Vir Biotechnology by 18.9% in the fourth quarter. State Street Corp now owns 6,229,555 shares of the company’s stock worth $37,564,000 after purchasing an additional 988,262 shares during the period. Millennium Management LLC increased its stake in Vir Biotechnology by 129.2% in the third quarter. Millennium Management LLC now owns 1,396,504 shares of the company’s stock worth $7,974,000 after purchasing an additional 787,212 shares during the period. Finally, HRT Financial LP lifted its position in shares of Vir Biotechnology by 234.7% during the fourth quarter. HRT Financial LP now owns 591,648 shares of the company’s stock worth $3,567,000 after purchasing an additional 414,864 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Vir Biotechnology in a report on Monday, December 22nd. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Vir Biotechnology in a research note on Tuesday, December 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Vir Biotechnology in a report on Monday, February 9th. Finally, Barclays set a $26.00 price objective on Vir Biotechnology in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.29.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.