Vir Biotechnology (NASDAQ:VIR) Releases Quarterly Earnings Results

Vir Biotechnology (NASDAQ:VIR - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.76) 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%. The firm had revenue of $12.37 million for the quarter, compared to analyst estimates of $8.14 million.

Vir Biotechnology Price Performance

VIR traded up $0.28 during midday trading on Friday, reaching $8.39. 1,422,946 shares of the company's stock traded hands, compared to its average volume of 2,495,682. Vir Biotechnology has a 52 week low of $6.56 and a 52 week high of $14.45. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.14 and a beta of 0.64. The firm has a fifty day moving average of $9.46 and a two-hundred day moving average of $8.50.

Insider Transactions at Vir Biotechnology

In other news, EVP Verneuil Vanina De sold 7,373 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $9.14, for a total transaction of $67,389.22. Following the transaction, the executive vice president now directly owns 79,460 shares of the company's stock, valued at $726,264.40. This represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George A. Scangos sold 10,964 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the transaction, the director now directly owns 708,295 shares in the company, valued at $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 quarter, insiders sold 30,935 shares of company stock valued at $327,082. Corporate insiders own 15.60% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VIR. Barclays increased their target price on Vir Biotechnology from $26.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday. HC Wainwright reiterated a "buy" rating and issued a $110.00 target price on shares of Vir Biotechnology in a research report on Friday. Leerink Partners raised their price objective on Vir Biotechnology from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. Morgan Stanley upgraded Vir Biotechnology from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $10.00 to $20.00 in a research report on Thursday, January 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Thursday. 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, Vir Biotechnology has an average rating of "Moderate Buy" and a consensus target price of $35.67.

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).