Vir Biotechnology (NASDAQ:VIR) Announces Earnings Results

Vir Biotechnology (NASDAQ:VIR) posted its quarterly earnings results on Thursday. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.51), Briefing.com reports. The business had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 35.00%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.22) EPS.

Vir Biotechnology Stock Performance

NASDAQ VIR opened at $9.26 on Friday. Vir Biotechnology has a one year low of $7.12 and a one year high of $13.09. The firm has a 50 day simple moving average of $7.75 and a 200-day simple moving average of $8.87. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -2.36 and a beta of 0.46.

Insiders Place Their Bets

In other Vir Biotechnology news, Director Janet Napolitano sold 12,190 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.80, for a total transaction of $95,082.00. Following the sale, the director now owns 11,616 shares in the company, valued at $90,604.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VIR shares. Barclays lifted their target price on shares of Vir Biotechnology from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright reissued 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 reiterated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research report on Friday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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).