What is HC Wainwright’s Estimate for VIR FY2024 Earnings?

Vir Biotechnology, Inc. (NASDAQ:VIR) – Research analysts at HC Wainwright boosted their FY2024 earnings estimates for Vir Biotechnology in a research report issued to clients and investors on Wednesday, November 20th. HC Wainwright analyst P. Trucchio now anticipates that the company will earn ($0.37) per share for the year, up from their previous estimate of ($3.70). HC Wainwright currently has a “Buy” rating and a $110.00 target price on the stock. The consensus estimate for Vir Biotechnology’s current full-year earnings is ($3.86) per share.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The business had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.22) EPS.

A number of other analysts also recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday. Barclays dropped their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.40.

Vir Biotechnology Stock Up 3.1 %

VIR stock opened at $6.95 on Friday. The company has a 50-day simple moving average of $7.93 and a 200 day simple moving average of $8.89. The company has a market capitalization of $957.15 million, a P/E ratio of -1.77 and a beta of 0.46. Vir Biotechnology has a fifty-two week low of $6.56 and a fifty-two week high of $13.09.

Insider Transactions at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. This represents a 51.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 15,940 shares of company stock valued at $127,410 in the last quarter. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Vir Biotechnology by 143.5% in the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after buying an additional 2,351 shares in the last quarter. Innealta Capital LLC bought a new position in Vir Biotechnology in the 2nd quarter worth $32,000. nVerses Capital LLC acquired a new position in Vir Biotechnology during the 3rd quarter worth $56,000. Magnetar Financial LLC bought a new stake in Vir Biotechnology during the second quarter valued at about $95,000. Finally, Quest Partners LLC grew its position in shares of Vir Biotechnology by 142.1% in the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after purchasing an additional 7,452 shares during the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.

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).