Vir Biotechnology Inc
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VIR Vir Biotechnology Inc
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Health Care : Biotechnology | Small Cap Growth
Company profile

Vir Biotechnology, Inc. is a commercial-stage immunology company focused on combining immunologic insights with technologies to treat and prevent serious infectious diseases. It has assembled four technology platforms focused on antibodies, T cells, innate immunity, and small interfering ribonucleic acid (siRNA), through internal development, collaborations, and acquisitions. The Company's pipeline consists of sotrovimab and other product candidates targeting COVID-19, hepatitis B virus (HBV), influenza A virus, and human immunodeficiency virus (HIV). Its product candidates include Sotrovimab and VIR-7832, VIR-2218, VIR-3434, VIR-2482, VIR-1111. It is engaged in developing differentiated monoclonal antibodies (mAbs) as well as vaccines and small molecules that focuses is on treating and preventing severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). VIR-2218 and VIR-3434, are for the treatment of HBV. VIR-2482 is an investigational IM administered influenza A-neutralizing mAb.

Postmarket

Last Trade
Delayed
$29.98
-0.16 (-0.53%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$30.14
Day's Change
0.23 (0.77%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
30.95
Day's Low
29.35
Volume
(Average)
Volume:
859,204

10-day average volume:
895,288
859,204

EBay stock jumps after earnings beat, in-line holiday forecast

8:15 am ET November 3, 2022 (MarketWatch)
Print

By Jeremy C. Owens and Wallace Witkowski

Revenue declines, but was above Wall Street expectations

EBay Inc. shares jumped more than 6% in premarket trading Thursday, after the online marketplace beat expectations for earnings and revenue and predicted an in-line holiday quarter.

EBay (EBAY) reported late Wednesday a third-quarter net loss of $70 million, or 13 cents a share, compared with earnings of 43 cents a share in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1 a share, compared with 90 cents a share in the year-ago period.

Revenue declined to $2.38 billion from $2.5 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast adjusted earnings of 93 cents a share on revenue of $2.32 billion. After closing with a 4.4% decline at $38.06, shares were trading for close to $41 in the extended session Wednesday.

"I'm proud of our team and community for remaining resilient in the face of a challenging macroeconomic environment," Chief Executive Jamie Iannone said in a statement.

Macroeconomic concerns have weighed on eBay, as pandemic gains for e-commerce companies come back to earth and rising inflation puts a crimp in consumers' budgets. The stock has fallen 42.5% in the past year, while the S&P 500 index has dropped 19.1%, and that spread has widened in the past three months, with eBay shares falling 21.2% and the S&P declining 5.8%.

"Macro headwinds such as record-high [inflation], rising interest rates, supply chain disruptions, geopolitical conflict, and adverse [foreign exchange] have all seemingly worsened since the [previous earnings report], continuing to weigh on discretionary spend levels and broader e-commerce," JP Morgan analyst Doug Anmuth wrote Monday, while reducing his price target on the stock to $43 from $50 and maintaining a neutral rating.

"Some may view eBay as defensive/value-oriented given the majority of GMV is preowned (Non-New In-Season), but we generally view most items and the focus categories it has leaned into (i.e. luxury watches, designer handbags, sneakers, & trading cards) as discretionary in nature and believe they could be challenged in a recessionary environment," he continued.

EBay forecast adjusted earnings of $1.03 to $1.09 a share on revenue of $2.42 billion to $2.5 billion for the fourth quarter. Analysts had estimated $1.05 a share on revenue of $2.49 billion for the fourth quarter, according to FactSet.

-Jeremy C. Owens

	

(END) Dow Jones Newswires

November 03, 2022 08:15 ET (12:15 GMT)

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