HC Wainwright Expects Lower Earnings for Vir Biotechnology

Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) - Research analysts at HC Wainwright cut their FY2024 earnings estimates for Vir Biotechnology in a research report issued to clients and investors on Monday, November 4th. HC Wainwright analyst P. Trucchio now anticipates that the company will earn ($3.70) per share for the year, down from their previous estimate of ($3.05). HC Wainwright currently has a "Buy" rating and a $110.00 target price 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 Biotechnology (NASDAQ:VIR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business 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) EPS. The company's revenue for the quarter was down 9.8% compared to the same quarter last year.

VIR has been the subject of a number of other reports. Barclays reduced their price target on shares of Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Vir Biotechnology in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Vir Biotechnology Trading Up 5.5 %

VIR traded up $0.53 on Wednesday, reaching $10.17. The company had a trading volume of 2,141,059 shares, compared to its average volume of 1,030,057. The company has a market capitalization of $1.39 billion, a P/E ratio of -2.59 and a beta of 0.46. The company has a fifty day moving average of $7.80 and a 200-day moving average of $8.90. Vir Biotechnology has a one year low of $7.12 and a one year high of $13.09.

Insiders Place Their Bets

In other news, Director Janet Napolitano sold 12,190 shares of the company's stock in a transaction on Monday, September 9th. The stock was 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 directly owns 11,616 shares of the company's stock, valued at $90,604.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 15,940 shares of company stock worth $127,410. 15.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Vir Biotechnology

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Vir Biotechnology by 58.7% during the first quarter. Nordea Investment Management AB now owns 235,664 shares of the company's stock valued at $2,408,000 after buying an additional 87,190 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Vir Biotechnology by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 74,977 shares of the company's stock valued at $760,000 after purchasing an additional 1,012 shares in the last quarter. Duality Advisers LP increased its position in Vir Biotechnology by 6.7% in the 1st quarter. Duality Advisers LP now owns 101,479 shares of the company's stock worth $1,028,000 after purchasing an additional 6,331 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Vir Biotechnology by 8.2% during the 1st quarter. Empowered Funds LLC now owns 458,044 shares of the company's stock worth $4,640,000 after purchasing an additional 34,640 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Vir Biotechnology during the 1st quarter valued at about $119,000. Hedge funds and other institutional investors own 65.32% of the company's stock.

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).