Vir Biotechnology (NASDAQ:VIR) Posts Earnings Results, Misses Estimates By $0.60 EPS

Vir Biotechnology (NASDAQ:VIR) announced its earnings results on Thursday. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.60), Briefing.com reports. Vir Biotechnology had a negative net margin of 612.40% and a negative return on equity of 30.93%. The business had revenue of $2.38 million for the quarter, compared to the consensus estimate of $5.54 million. During the same quarter last year, the firm posted ($1.22) earnings per share. The business’s quarterly revenue was down 9.8% compared to the same quarter last year.

Vir Biotechnology Stock Up 23.6 %

VIR stock traded up $1.77 during trading on Friday, hitting $9.26. The company had a trading volume of 7,112,888 shares, compared to its average volume of 1,021,156. Vir Biotechnology has a 52-week low of $7.12 and a 52-week high of $13.09. The company has a 50 day simple moving average of $7.74 and a 200-day simple moving average of $8.86. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.30 and a beta of 0.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VIR. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Tuesday, August 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a report on Friday. 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 note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Insider Buying and Selling at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 15.60% of the stock is owned by corporate 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).