Leerink Partnrs Has Negative Outlook of VIR FY2024 Earnings

Vir Biotechnology, Inc. (NASDAQ:VIR) – Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for Vir Biotechnology in a research note issued on Sunday, November 3rd. Leerink Partnrs analyst R. Ruiz now expects that the company will earn ($4.02) per share for the year, down from their previous estimate of ($3.30). The consensus estimate for Vir Biotechnology’s current full-year earnings is ($3.48) per share. Leerink Partnrs also issued estimates for Vir Biotechnology’s Q4 2024 earnings at ($0.96) EPS, FY2025 earnings at ($4.25) EPS, FY2026 earnings at ($3.55) EPS and FY2027 earnings at ($0.90) EPS.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings results 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). Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. During the same period in the previous year, the company posted ($1.22) EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year.

Several other brokerages have also recently weighed in on VIR. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Vir Biotechnology in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a research note on Friday, November 1st. Finally, Barclays decreased their target price on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Vir Biotechnology Price Performance

NASDAQ:VIR opened at $9.64 on Wednesday. Vir Biotechnology has a 1 year low of $7.12 and a 1 year high of $13.09. The business has a fifty day moving average of $7.77 and a 200-day moving average of $8.88.

Hedge Funds Weigh In On Vir Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Vir Biotechnology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock worth $125,362,000 after acquiring an additional 78,216 shares in the last quarter. Millennium Management LLC lifted its stake in Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after acquiring an additional 606,804 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Vir Biotechnology by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock worth $7,238,000 after acquiring an additional 6,359 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Vir Biotechnology by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock worth $5,673,000 after acquiring an additional 58,360 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Vir Biotechnology by 8.2% in the 1st quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock worth $4,640,000 after acquiring an additional 34,640 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

Insider Activity at Vir Biotechnology

In related news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction 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 transaction, the director now owns 11,616 shares in the company, valued at $90,604.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 15,940 shares of company stock worth $127,410 in the last quarter. 15.60% of the stock is owned by company 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).