Vir Biotechnology (NASDAQ:VIR) Posts Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Vir Biotechnology (NASDAQ:VIR) posted its earnings results on Thursday. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.51, Briefing.com reports. Vir Biotechnology had a negative net margin of 677.69% and a negative return on equity of 31.89%. The firm had revenue of $56.38 million during the quarter, compared to the consensus estimate of $11.71 million. During the same period last year, the firm posted ($1.06) EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis.

Vir Biotechnology Stock Performance

VIR stock opened at $10.39 on Friday. The business has a fifty day simple moving average of $9.79 and a 200-day simple moving average of $9.60. Vir Biotechnology has a 52 week low of $7.61 and a 52 week high of $27.48.

Analysts Set New Price Targets

VIR has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a research note on Friday. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of Vir Biotechnology in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.63.

Insider Transactions at Vir Biotechnology

In other news, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at approximately $6,418,203.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Backer Marianne De sold 72,995 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the completion of the sale, the chief executive officer now directly owns 678,457 shares in the company, valued at approximately $6,418,203.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann M. Hanly sold 2,711 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $10.05, for a total value of $27,245.55. Following the sale, the executive vice president now owns 132,069 shares of the company’s stock, valued at $1,327,293.45. The disclosure for this sale can be found here. Insiders sold a total of 152,831 shares of company stock worth $1,525,844 in the last ninety days. Insiders own 15.60% of the company’s stock.

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.