Vir Biotechnology (NASDAQ:VIR) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Vir Biotechnology (NASDAQ:VIR) announced its quarterly earnings data on Monday. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.11, Zacks reports. The firm had revenue of $64.07 million for the quarter, compared to analyst estimates of $19.91 million. Vir Biotechnology had a negative net margin of 2,963.54% and a negative return on equity of 50.76%. The business’s quarterly revenue was up 417.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.76) earnings per share.

Vir Biotechnology Stock Down 1.7%

Shares of NASDAQ:VIR traded down $0.13 during trading on Monday, hitting $7.43. 6,104,194 shares of the stock traded hands, compared to its average volume of 1,877,190. The company has a fifty day moving average price of $6.73 and a two-hundred day moving average price of $5.93. Vir Biotechnology has a 52-week low of $4.16 and a 52-week high of $9.84. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -2.06 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VIR shares. Barclays set a $26.00 price target on Vir Biotechnology in a research note on Tuesday, February 17th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Vir Biotechnology in a report on Monday, February 9th. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Vir Biotechnology in a research note on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vir Biotechnology in a report on Monday, December 22nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.

Insider Buying and Selling at Vir Biotechnology

In related news, Director Vicki L. Sato sold 22,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $7.71, for a total value of $169,620.00. Following the completion of the transaction, the director owned 1,144,391 shares of the company’s stock, valued at approximately $8,823,254.61. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Endurance (Cayman) Ltd Svf sold 191,854 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $5.98, for a total value of $1,147,286.92. Following the completion of the sale, the insider directly owned 13,728,924 shares in the company, valued at approximately $82,098,965.52. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 684,786 shares of company stock worth $4,310,319. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vir Biotechnology

A number of institutional investors have recently added to or reduced their stakes in VIR. GSK plc purchased a new position in Vir Biotechnology during the fourth quarter valued at $51,562,000. Balyasny Asset Management L.P. purchased a new position in shares of Vir Biotechnology in the fourth quarter valued at approximately $8,252,000. State Street Corp increased its position in shares of Vir Biotechnology by 18.9% during the fourth quarter. State Street Corp now owns 6,229,555 shares of the company’s stock worth $37,564,000 after purchasing an additional 988,262 shares in the last quarter. Millennium Management LLC increased its position in shares of Vir Biotechnology by 129.2% during the third quarter. Millennium Management LLC now owns 1,396,504 shares of the company’s stock worth $7,974,000 after purchasing an additional 787,212 shares in the last quarter. Finally, HRT Financial LP raised its stake in Vir Biotechnology by 234.7% in the 4th quarter. HRT Financial LP now owns 591,648 shares of the company’s stock valued at $3,567,000 after purchasing an additional 414,864 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

About Vir Biotechnology

Vir Biotechnology, Inc is a clinical‐stage immunology company dedicated to developing therapies that prevent and treat serious infectious diseases. The company leverages a suite of proprietary technology platforms—ranging from antibody isolation and screening tools to cell‐based assays and bioinformatics—to identify and advance antiviral and antibacterial candidates. Its scientific approach centers on harnessing the human immune system through monoclonal antibodies and immunomodulatory agents.

The company’s pipeline includes product candidates targeting influenza A, COVID‐19, HIV, hepatitis B, and tuberculosis.