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

Vir Biotechnology (NASDAQ:VIR) issued its earnings results on Thursday. The company reported ($1.56) EPS 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 company had revenue of $2.38 million during the quarter, compared to analysts’ expectations of $5.54 million. During the same quarter in the previous year, the company earned ($1.22) EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year.

Vir Biotechnology Stock Performance

Vir Biotechnology stock traded up $1.77 during mid-day trading on Friday, reaching $9.26. 7,117,559 shares of the company were exchanged, compared to its average volume of 1,021,178. The firm has a market cap of $1.27 billion, a PE ratio of -2.30 and a beta of 0.46. The firm’s 50-day simple moving average is $7.74 and its two-hundred day simple moving average is $8.86. Vir Biotechnology has a twelve month low of $7.12 and a twelve month high of $13.09.

Insider Activity

In other news, Director Janet Napolitano sold 12,190 shares of the business’s 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 transaction, the director now owns 11,616 shares of the company’s stock, valued at $90,604.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays increased their target price on 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 reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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).