Vir Biotechnology (NASDAQ:VIR) Issues Earnings Results

Vir Biotechnology (NASDAQ:VIR) released its earnings results on Wednesday. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.09, Zacks reports. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%.

Vir Biotechnology Trading Up 1.1 %

NASDAQ:VIR traded up $0.10 during trading hours on Wednesday, hitting $9.20. 844,284 shares of the company traded hands, compared to its average volume of 2,533,618. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.35 and a beta of 0.63. The firm has a 50-day moving average of $9.38 and a 200 day moving average of $8.49. Vir Biotechnology has a twelve month low of $6.56 and a twelve month high of $14.45.

Analysts Set New Price Targets

VIR has been the topic of a number of research reports. Barclays lowered their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a report on Friday, January 31st. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. Finally, Leerink Partners increased their target price on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Insider Buying and Selling at Vir Biotechnology

In other Vir Biotechnology news, Director Vicki L. Sato sold 10,960 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the transaction, the director now directly owns 1,312,391 shares of the company’s stock, valued at approximately $16,431,135.32. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Scangos sold 10,964 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.81, for a total value of $107,556.84. Following the completion of the transaction, the director now directly owns 708,295 shares of the company’s stock, valued at approximately $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. Insiders have sold 23,562 shares of company stock valued at $259,693 in the last 90 days. 15.60% of the stock is currently owned by company insiders.

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).