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

Vir Biotechnology (NASDAQ:VIR) released its 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 net margin of 678.40% and a negative return on equity of 36.71%.

Vir Biotechnology Stock Up 1.1 %

Shares of NASDAQ VIR traded up $0.10 during trading on Wednesday, hitting $9.20. 843,868 shares of the company traded hands, compared to its average volume of 2,533,510. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.35 and a beta of 0.63. The company has a 50-day moving average price of $9.38 and a 200-day moving average price of $8.49. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $14.45.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VIR. JPMorgan Chase & Co. boosted their price objective on shares of Vir Biotechnology from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. Leerink Partners increased their price target on Vir Biotechnology from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Vir Biotechnology in a research report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Vir Biotechnology in a research note on Friday, January 31st. Finally, Barclays decreased their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.83.

Insider Buying and Selling

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

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).