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

Vir Biotechnology (NASDAQ:VIR) issued its quarterly earnings results on Thursday. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.13), Briefing.com reports. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 32.58%. The company had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $7.53 million. During the same period in the prior year, the business posted ($1.45) earnings per share. The company’s quarterly revenue was down 19.0% compared to the same quarter last year.

Vir Biotechnology Stock Performance

VIR opened at $9.21 on Friday. The stock has a market capitalization of $1.25 billion, a PE ratio of -2.30 and a beta of 0.48. Vir Biotechnology has a one year low of $7.61 and a one year high of $14.27. The business’s 50 day moving average price is $9.83 and its 200 day moving average price is $9.81.

Insiders Place Their Bets

In other news, Director Saira Ramasastry sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $10.95, for a total value of $43,800.00. Following 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 filing with the SEC, which is accessible through the SEC website. 15.60% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Vir Biotechnology

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.