HC Wainwright Expects Weaker Earnings for Vir Biotechnology

Vir Biotechnology, Inc. (NASDAQ:VIR) – Equities research analysts at HC Wainwright reduced their FY2024 earnings per share estimates for shares of Vir Biotechnology in a report issued on Monday, November 4th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings of ($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 price target 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.

A number of other analysts have also commented on the company. Barclays cut their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of Vir Biotechnology in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Vir Biotechnology Trading Down 3.9 %

Shares of NASDAQ VIR opened at $9.77 on Wednesday. The company has a fifty day moving average price of $7.83 and a 200 day moving average price of $8.90. The firm has a market cap of $1.35 billion, a PE ratio of -2.51 and a beta of 0.46. Vir Biotechnology has a 1-year low of $7.12 and a 1-year high of $13.09.

Vir Biotechnology (NASDAQ:VIR) last issued its quarterly earnings data 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). The company had revenue of $2.38 million for the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.22) EPS.

Institutional Trading of Vir Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after acquiring an additional 606,804 shares during the period. Federated Hermes Inc. lifted its stake in Vir Biotechnology by 19,327.1% in the 2nd quarter. Federated Hermes Inc. now owns 300,148 shares of the company’s stock valued at $2,671,000 after purchasing an additional 298,603 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in Vir Biotechnology during the second quarter worth about $1,780,000. Cubist Systematic Strategies LLC increased its position in Vir Biotechnology by 6,402.0% during the second quarter. Cubist Systematic Strategies LLC now owns 188,624 shares of the company’s stock worth $1,679,000 after buying an additional 185,723 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Vir Biotechnology during the second quarter worth approximately $1,485,000. 65.32% of the stock is owned by institutional investors.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the completion of the sale, the director now owns 11,616 shares of the company’s stock, valued at approximately $90,604.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 15,940 shares of company stock valued at $127,410. 15.60% of the stock is owned by 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).