FY2024 EPS Forecast for Vir Biotechnology Reduced by Analyst

Vir Biotechnology, Inc. (NASDAQ:VIR) – Analysts at Leerink Partnrs cut their FY2024 earnings per share estimates for Vir Biotechnology in a research note issued on Sunday, November 3rd. Leerink Partnrs analyst R. Ruiz now expects that the company will post earnings per share of ($4.02) for the year, down from their prior estimate of ($3.30). The consensus estimate for Vir Biotechnology’s current full-year earnings is ($3.48) per share. Leerink Partnrs also issued estimates for Vir Biotechnology’s Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($4.25) EPS, FY2026 earnings at ($3.55) EPS and FY2027 earnings at ($0.90) EPS.

Other analysts have also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research report on Monday. Barclays reduced their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Vir Biotechnology in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Price Performance

VIR opened at $9.64 on Wednesday. Vir Biotechnology has a 1 year low of $7.12 and a 1 year high of $13.09. The stock has a fifty day moving average price of $7.77 and a 200 day moving average price of $8.88.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data 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 firm had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. Vir Biotechnology’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted ($1.22) EPS.

Hedge Funds Weigh In On Vir Biotechnology

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of Vir Biotechnology by 143.5% in the third quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock worth $30,000 after purchasing an additional 2,351 shares during the period. Innealta Capital LLC bought a new position in Vir Biotechnology during the second quarter valued at about $32,000. nVerses Capital LLC bought a new position in Vir Biotechnology during the third quarter valued at about $56,000. Magnetar Financial LLC bought a new position in Vir Biotechnology during the second quarter valued at about $95,000. Finally, Quest Partners LLC increased its stake in Vir Biotechnology by 142.1% during the second quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after acquiring an additional 7,452 shares during the period. 65.32% of the stock is currently owned by institutional investors.

Insider Transactions at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the transaction, the director now directly owns 11,616 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 15,940 shares of company stock worth $127,410. Company insiders own 15.60% of the company’s stock.

About Vir Biotechnology

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).