Vir Biotechnology (NASDAQ:VIR) Issues Earnings Results

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

Vir Biotechnology Stock Up 13.2 %

Shares of NASDAQ VIR traded up $1.21 during trading hours on Friday, hitting $10.39. The company had a trading volume of 1,690,966 shares, compared to its average volume of 1,050,141. The stock has a market capitalization of $1.40 billion, a P/E 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. The firm’s 50 day moving average is $9.82 and its 200-day moving average is $9.59.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Vir Biotechnology in a research note on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Vir Biotechnology currently has a consensus rating of “Moderate Buy” and an average price target of $34.63.

Insider Activity

In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. In other Vir Biotechnology news, EVP Phillip Pang sold 3,321 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.24, for a total transaction of $34,007.04. Following the completion of the sale, the executive vice president now owns 264,679 shares of the company’s stock, valued at approximately $2,710,312.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Backer Marianne De sold 72,995 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total value of $690,532.70. Following the sale, the chief executive officer now directly owns 678,457 shares of the company’s stock, valued at approximately $6,418,203.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is owned by 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.