Leerink Partnrs Has Pessimistic View of VIR FY2024 Earnings

Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) - Research analysts at Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for shares of Vir Biotechnology in a research report issued on Sunday, November 3rd. Leerink Partnrs analyst R. Ruiz now forecasts that the company will earn ($4.02) per share for the year, down from their prior forecast of ($3.30). The consensus estimate for Vir Biotechnology's current full-year earnings is ($3.48) per share. Leerink Partnrs also issued estimates for Vir Biotechnology's Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($4.25) EPS, FY2026 earnings at ($3.55) EPS and FY2027 earnings at ($0.90) EPS.

Several other research analysts have also weighed in on VIR. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 target price on shares of Vir Biotechnology in a research report on Friday, November 1st. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Vir Biotechnology in a research note on Monday. Finally, Barclays dropped their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.40.

Vir Biotechnology Price Performance

NASDAQ:VIR traded up $0.53 during trading hours on Wednesday, reaching $10.17. 2,141,059 shares of the company were exchanged, compared to its average volume of 1,030,057. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -2.59 and a beta of 0.46. The stock has a 50 day simple moving average of $7.80 and a 200 day simple moving average of $8.90. Vir Biotechnology has a 52-week low of $7.12 and a 52-week high of $13.09.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share 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 company had revenue of $2.38 million for the quarter, compared to analysts' expectations of $5.54 million. During the same quarter in the previous year, the company earned ($1.22) earnings per share. The company's revenue was down 9.8% on a year-over-year basis.

Institutional Trading of Vir Biotechnology

A number of hedge funds and other institutional investors have recently modified their holdings of VIR. Innealta Capital LLC bought a new position in Vir Biotechnology during the 2nd quarter valued at $32,000. Blue Trust Inc. lifted its position in shares of Vir Biotechnology by 143.5% during the third quarter. Blue Trust Inc. now owns 3,989 shares of the company's stock worth $30,000 after purchasing an additional 2,351 shares during the last quarter. nVerses Capital LLC acquired a new position in Vir Biotechnology in the third quarter worth about $56,000. Magnetar Financial LLC bought a new position in Vir Biotechnology during the 2nd quarter worth approximately $95,000. Finally, Headlands Technologies LLC acquired a new position in shares of Vir Biotechnology in the 1st quarter worth approximately $119,000. 65.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Janet Napolitano sold 12,190 shares of Vir Biotechnology stock in a transaction that occurred on Monday, September 9th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 15,940 shares of company stock worth $127,410 over the last quarter. 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).