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

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

Vir Biotechnology Price Performance

Shares of VIR traded up $1.77 during trading hours on Friday, hitting $9.26. The stock had a trading volume of 7,117,559 shares, compared to its average volume of 1,021,178. Vir Biotechnology has a 12 month low of $7.12 and a 12 month high of $13.09. The firm has a market capitalization of $1.27 billion, a PE ratio of -2.30 and a beta of 0.46. The stock has a fifty day moving average price of $7.74 and a 200 day moving average price of $8.86.

Insiders Place Their Bets

In other news, Director Janet Napolitano sold 12,190 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.80, for a total value of $95,082.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

VIR has been the subject of a number of analyst reports. Barclays lifted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research report on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

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).