Vir Biotechnology (NASDAQ:VIR) Releases Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Vir Biotechnology (NASDAQ:VIR) released its earnings results on Thursday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51, Briefing.com reports. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 31.89%. The business had revenue of $56.38 million for the quarter, compared to analyst estimates of $11.71 million. During the same quarter in the previous year, the business earned ($1.06) earnings per share. Vir Biotechnology’s revenue for the quarter was down 10.5% on a year-over-year basis.

Vir Biotechnology Price Performance

NASDAQ:VIR opened at $10.39 on Friday. Vir Biotechnology has a one year low of $7.61 and a one year high of $27.48. The company has a market cap of $1.40 billion, a PE ratio of -2.59 and a beta of 0.47. The firm has a 50-day moving average of $9.79 and a 200-day moving average of $9.60.

Analysts Set New Price Targets

VIR has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Vir Biotechnology in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Vir Biotechnology has an average rating of “Moderate Buy” and an average target price of $34.63.

Insider Activity at Vir Biotechnology

In other news, Director George A. Scangos sold 10,878 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.24, for a total value of $111,390.72. Following the completion of the sale, the director now directly owns 157,611 shares of the company’s stock, valued at $1,613,936.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Backer Marianne De sold 72,995 shares of the 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 owns 678,457 shares in the company, valued at $6,418,203.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George A. Scangos sold 10,878 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.24, for a total transaction of $111,390.72. Following the transaction, the director now directly owns 157,611 shares in the company, valued at $1,613,936.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,831 shares of company stock valued at $1,525,844. 15.60% of the stock is owned by corporate 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.