Vir Biotechnology (NASDAQ:VIR) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Vir Biotechnology (NASDAQ:VIR) released its quarterly earnings results on Wednesday. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09, Zacks reports. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%.

Vir Biotechnology Price Performance

Shares of VIR stock traded up $0.10 during trading hours on Wednesday, reaching $9.20. 844,284 shares of the stock were exchanged, compared to its average volume of 2,533,618. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.35 and a beta of 0.63. Vir Biotechnology has a 12-month low of $6.56 and a 12-month high of $14.45. The business’s fifty day moving average is $9.38 and its two-hundred day moving average is $8.49.

Insider Transactions at Vir Biotechnology

In other news, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total transaction of $137,219.20. Following the completion of the transaction, the director now directly owns 1,312,391 shares in the company, valued at approximately $16,431,135.32. This represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George A. Scangos sold 10,964 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the sale, the director now directly owns 708,295 shares in the company, valued at $6,948,373.95. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,562 shares of company stock worth $259,693. Insiders own 15.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays lowered their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Leerink Partners raised their price objective on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $110.00 price objective on shares of Vir Biotechnology in a report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

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).