FY2024 EPS Estimate for Vir Biotechnology Lowered by Analyst

Vir Biotechnology, Inc. (NASDAQ:VIR) – Research analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Vir Biotechnology in a note issued to investors on Monday, November 4th. HC Wainwright analyst P. Trucchio now expects that the company will earn ($3.70) per share for the year, down from their prior estimate of ($3.05). HC Wainwright has a “Buy” rating and a $110.00 price objective on the stock. The consensus estimate for Vir Biotechnology’s current full-year earnings is ($3.48) per share. HC Wainwright also issued estimates for Vir Biotechnology’s Q4 2024 earnings at ($0.66) EPS, Q1 2025 earnings at ($0.68) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.85) EPS, Q4 2025 earnings at ($0.80) EPS, FY2025 earnings at ($3.08) EPS, FY2026 earnings at ($3.15) EPS, FY2027 earnings at ($3.17) EPS and FY2028 earnings at ($1.45) EPS.

VIR has been the topic of a number of other reports. Barclays dropped their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.40.

Vir Biotechnology Stock Up 2.9 %

VIR opened at $9.64 on Wednesday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.46 and a beta of 0.46. Vir Biotechnology has a twelve month low of $7.12 and a twelve month high of $13.09. The company’s 50-day moving average price is $7.77 and its two-hundred day moving average price is $8.88.

Vir Biotechnology (NASDAQ:VIR) last issued 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). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. During the same period in the previous year, the company posted ($1.22) earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis.

Insider Activity at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of the company’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 transaction of $95,082.00. Following the sale, the director now directly owns 11,616 shares in the company, valued at approximately $90,604.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 15,940 shares of company stock worth $127,410. 15.60% of the stock is owned by corporate insiders.

Institutional Trading of Vir Biotechnology

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Vir Biotechnology by 143.5% during the 3rd quarter. Blue Trust Inc. now owns 3,989 shares of the company’s stock valued at $30,000 after buying an additional 2,351 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Vir Biotechnology during the 2nd quarter valued at approximately $32,000. nVerses Capital LLC purchased a new stake in shares of Vir Biotechnology during the 3rd quarter valued at approximately $56,000. Magnetar Financial LLC purchased a new stake in shares of Vir Biotechnology during the 2nd quarter valued at approximately $95,000. Finally, Quest Partners LLC lifted its stake in shares of Vir Biotechnology by 142.1% during the 2nd quarter. Quest Partners LLC now owns 12,695 shares of the company’s stock valued at $113,000 after buying an additional 7,452 shares in the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

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).