Vir Biotechnology, Inc. (NASDAQ:VIR) to Post FY2024 Earnings of ($3.13) Per Share, HC Wainwright Forecasts

Vir Biotechnology, Inc. (NASDAQ:VIR - Free Report) - Analysts at HC Wainwright upped their FY2024 earnings estimates for shares of Vir Biotechnology in a research report issued to clients and investors on Tuesday, May 7th. HC Wainwright analyst P. Trucchio now expects that the company will post earnings per share of ($3.13) for the year, up from their prior estimate of ($3.43). HC Wainwright has a "Buy" rating and a $110.00 price objective on the stock. The consensus estimate for Vir Biotechnology's current full-year earnings is ($4.04) per share. HC Wainwright also issued estimates for Vir Biotechnology's Q1 2025 earnings at ($0.80) EPS, Q2 2025 earnings at ($0.88) EPS, Q3 2025 earnings at ($0.96) EPS, Q4 2025 earnings at ($0.58) EPS, FY2025 earnings at ($3.10) EPS, FY2026 earnings at ($2.13) EPS, FY2027 earnings at ($1.68) EPS and FY2028 earnings at ($0.61) EPS.

Vir Biotechnology (NASDAQ:VIR - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.48) EPS for the quarter, topping analysts' consensus estimates of ($0.99) by $0.51. The firm had revenue of $56.38 million during the quarter, compared to analysts' expectations of $11.71 million. Vir Biotechnology had a negative return on equity of 32.58% and a negative net margin of 677.69%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.06) EPS.

A number of other equities research analysts have also weighed in on VIR. JPMorgan Chase & Co. lifted their target price on Vir Biotechnology from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 target price on shares of Vir Biotechnology in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.57.

Vir Biotechnology Stock Up 0.2 %

VIR traded up $0.02 during trading hours on Thursday, reaching $9.56. 683,168 shares of the company's stock traded hands, compared to its average volume of 1,047,844. The firm has a 50-day moving average price of $9.69 and a 200 day moving average price of $9.64. Vir Biotechnology has a 52-week low of $7.61 and a 52-week high of $27.48. The firm has a market capitalization of $1.29 billion, a PE ratio of -2.38 and a beta of 0.47.

Institutional Investors Weigh In On Vir Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Vir Biotechnology by 249.9% during the 1st quarter. GAMMA Investing LLC now owns 2,708 shares of the company's stock worth $27,000 after purchasing an additional 1,934 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Vir Biotechnology by 274.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,970 shares of the company's stock valued at $30,000 after acquiring an additional 2,177 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Vir Biotechnology by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,448 shares of the company's stock worth $32,000 after acquiring an additional 1,692 shares in the last quarter. Signaturefd LLC lifted its stake in Vir Biotechnology by 258.5% during the fourth quarter. Signaturefd LLC now owns 3,327 shares of the company's stock worth $33,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Vir Biotechnology by 69.3% in the third quarter. Fifth Third Bancorp now owns 3,941 shares of the company's stock valued at $37,000 after purchasing an additional 1,613 shares in the last quarter. Hedge funds and other institutional investors own 65.32% of the company's stock.

Insider Transactions at Vir Biotechnology

In other Vir Biotechnology news, EVP Phillip Pang sold 3,321 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.24, for a total transaction of $34,007.04. Following the transaction, the executive vice president now owns 264,679 shares in the company, valued at $2,710,312.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vir Biotechnology news, CEO Backer Marianne De sold 72,995 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $9.46, for a total transaction of $690,532.70. Following the transaction, the chief executive officer now owns 678,457 shares in the company, valued at $6,418,203.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Phillip Pang sold 3,321 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.24, for a total value of $34,007.04. Following the transaction, the executive vice president now directly owns 264,679 shares of the company's stock, valued at approximately $2,710,312.96. The disclosure for this sale can be found here. Insiders have sold 152,831 shares of company stock worth $1,525,844 over the last quarter. 15.60% of the stock is currently owned by insiders.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.