FY2024 EPS Forecast for Vir Biotechnology Raised by Analyst

Vir Biotechnology, Inc. (NASDAQ:VIR) – Analysts at HC Wainwright upped their FY2024 earnings estimates for shares of Vir Biotechnology in a report issued on Wednesday, November 20th. HC Wainwright analyst P. Trucchio now expects that the company will post earnings per share of ($0.37) for the year, up from their previous forecast of ($3.70). 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 ($3.86) per share.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The firm had revenue of $2.38 million for the quarter, compared to analyst estimates of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business earned ($1.22) earnings per share.

Other equities research analysts also recently issued research reports about the stock. Barclays decreased their price target 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, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Vir Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Trading Up 3.1 %

VIR opened at $6.95 on Friday. The stock’s 50 day simple moving average is $7.93 and its 200-day simple moving average is $8.89. The stock has a market cap of $957.15 million, a PE ratio of -1.77 and a beta of 0.46. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $13.09.

Institutional Trading of Vir Biotechnology

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of Vir Biotechnology by 116.6% in the first quarter. Russell Investments Group Ltd. now owns 25,971 shares of the company’s stock valued at $263,000 after buying an additional 13,981 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Vir Biotechnology by 8.4% during the 1st quarter. ProShare Advisors LLC now owns 26,392 shares of the company’s stock worth $267,000 after buying an additional 2,035 shares in the last quarter. Vanguard Group Inc. boosted its position in Vir Biotechnology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock valued at $125,362,000 after buying an additional 78,216 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Vir Biotechnology in the first quarter worth about $259,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Vir Biotechnology by 5.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 310,091 shares of the company’s stock worth $3,141,000 after buying an additional 16,615 shares during the period. 65.32% of the stock is owned by institutional investors.

Insider Activity at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.80, for a total transaction of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. This trade represents a 51.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 15,940 shares of company stock valued at $127,410 in the last 90 days. 15.60% of the stock is owned by corporate insiders.

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).