Vir Biotechnology (NASDAQ:VIR) Announces Quarterly Earnings Results, Misses Expectations By $0.60 EPS

Vir Biotechnology (NASDAQ:VIR) announced its quarterly earnings data on Thursday. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter last year, the company posted ($1.22) EPS. Vir Biotechnology’s revenue for the quarter was down 9.8% compared to the same quarter last year.

Vir Biotechnology Stock Performance

Shares of VIR stock traded up $1.77 during trading hours on Friday, reaching $9.26. The company had a trading volume of 7,112,888 shares, compared to its average volume of 1,021,156. The business has a fifty day moving average price of $7.74 and a 200-day moving average price of $8.86. Vir Biotechnology has a one year low of $7.12 and a one year high of $13.09. The firm has a market cap of $1.27 billion, a PE ratio of -2.30 and a beta of 0.46.

Insider Activity at Vir Biotechnology

In other Vir Biotechnology 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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on VIR shares. Barclays increased their price objective on shares of Vir Biotechnology from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Tuesday, August 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Friday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.80.

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).