Vir Biotechnology (NASDAQ:VIR) Releases Earnings Results, Misses Estimates By $0.13 EPS

Vir Biotechnology (NASDAQ:VIR) announced its quarterly earnings data on Thursday. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.13), Briefing.com reports. Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.11%. The business had revenue of $3.08 million during the quarter, compared to analyst estimates of $7.53 million. During the same quarter in the prior year, the company earned ($1.45) earnings per share. The company’s quarterly revenue was down 19.0% on a year-over-year basis.

Vir Biotechnology Trading Down 5.3 %

Vir Biotechnology stock opened at $9.21 on Friday. The company has a fifty day simple moving average of $9.83 and a 200 day simple moving average of $9.81. Vir Biotechnology has a 1-year low of $7.61 and a 1-year high of $14.27. The company has a market cap of $1.25 billion, a P/E ratio of -2.30 and a beta of 0.48.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Vir Biotechnology from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a report on Wednesday, June 5th. Needham & Company LLC increased their target price on shares of Vir Biotechnology from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. increased their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Barclays increased their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Activity

In other news, Director Saira Ramasastry sold 4,000 shares of Vir Biotechnology stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $10.95, for a total value of $43,800.00. Following the completion of the transaction, the director now owns 14,619 shares of the company’s stock, valued at approximately $160,078.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.