Vir Biotechnology (NASDAQ:VIR) Issues Quarterly Earnings Results

Vir Biotechnology (NASDAQ:VIR) released its earnings results on Wednesday. The company reported ($0.76) earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.37 million during the quarter, compared to the consensus estimate of $8.14 million.

Vir Biotechnology Trading Down 11.8 %

Shares of Vir Biotechnology stock opened at $8.11 on Friday. Vir Biotechnology has a 1-year low of $6.56 and a 1-year high of $14.45. The firm has a fifty day simple moving average of $9.44 and a 200-day simple moving average of $8.50. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.07 and a beta of 0.63.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VIR shares. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. Barclays reduced their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Leerink Partners increased their price target on shares of Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Vir Biotechnology has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Insider Buying and Selling

In related news, Director George A. Scangos sold 10,964 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares of the company’s stock, valued at $6,948,373.95. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Verneuil Vanina De sold 7,373 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $9.14, for a total transaction of $67,389.22. Following the completion of the sale, the executive vice president now directly owns 79,460 shares in the company, valued at $726,264.40. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,935 shares of company stock worth $327,082 in the last quarter. 15.60% of the stock is currently owned by company insiders.

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).