Research Analysts Offer Predictions for Vir Biotechnology, Inc.’s FY2024 Earnings (NASDAQ:VIR)

Vir Biotechnology, Inc. (NASDAQ:VIR) – Equities research analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of Vir Biotechnology in a research note issued to investors on Tuesday, May 7th. HC Wainwright analyst P. Trucchio now forecasts that the company will earn ($3.13) per share for the year, up from their prior estimate of ($3.43). 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 ($4.04) per share. HC Wainwright also issued estimates for Vir Biotechnology’s Q1 2025 earnings at ($0.80) EPS, Q2 2025 earnings at ($0.88) EPS, Q3 2025 earnings at ($0.96) EPS, Q4 2025 earnings at ($0.58) EPS, FY2025 earnings at ($3.10) EPS, FY2026 earnings at ($2.13) EPS, FY2027 earnings at ($1.68) EPS and FY2028 earnings at ($0.61) EPS.

Vir Biotechnology (NASDAQ:VIR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.99) by $0.51. Vir Biotechnology had a negative return on equity of 32.58% and a negative net margin of 677.69%. The firm had revenue of $56.38 million for the quarter, compared to analysts’ expectations of $11.71 million. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. Vir Biotechnology’s revenue for the quarter was down 10.5% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Vir Biotechnology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Vir Biotechnology in a research report on Friday, May 3rd. Three 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, Vir Biotechnology presently has an average rating of “Moderate Buy” and an average price target of $33.57.

Vir Biotechnology Price Performance

VIR stock opened at $9.54 on Thursday. The firm has a fifty day moving average price of $9.73 and a two-hundred day moving average price of $9.64. Vir Biotechnology has a 1-year low of $7.61 and a 1-year high of $27.48. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -2.38 and a beta of 0.47.

Insiders Place Their Bets

In related news, Director George A. Scangos sold 10,878 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.24, for a total transaction of $111,390.72. Following the transaction, the director now owns 157,611 shares in the company, valued at $1,613,936.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of Vir Biotechnology stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $9.46, for a total transaction of $690,532.70. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director George A. Scangos sold 10,878 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $111,390.72. Following the completion of the sale, the director now owns 157,611 shares of the company’s stock, valued at approximately $1,613,936.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,831 shares of company stock worth $1,525,844. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Vir Biotechnology by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 12,297,139 shares of the company’s stock valued at $123,709,000 after purchasing an additional 1,096,473 shares during the period. Algert Global LLC acquired a new stake in shares of Vir Biotechnology during the 3rd quarter valued at $4,214,000. Barclays PLC grew its holdings in shares of Vir Biotechnology by 124.6% during the 3rd quarter. Barclays PLC now owns 412,161 shares of the company’s stock valued at $3,863,000 after acquiring an additional 228,634 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of Vir Biotechnology by 68.5% in the third quarter. Rafferty Asset Management LLC now owns 525,317 shares of the company’s stock worth $4,922,000 after acquiring an additional 213,477 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Vir Biotechnology by 41.0% during the third quarter. Jupiter Asset Management Ltd. now owns 708,257 shares of the company’s stock valued at $6,636,000 after purchasing an additional 205,913 shares during the last quarter. 65.32% of the stock is owned by hedge funds and other institutional investors.

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.