Vir(US:VIR) ZACKSยท2024-08-01 22:51Core Insights - Vir Biotechnology, Inc. reported a quarterly loss of $1.02 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.93, marking an earnings surprise of -9.68% [1] - The company's revenues for the quarter ended June 2024 were $3.08 million, missing the Zacks Consensus Estimate by 71.79%, compared to $3.8 million in the same quarter last year [2] - The stock has underperformed the market, gaining about 1% since the beginning of the year, while the S&P 500 has gained 15.8% [3] Financial Performance - Over the last four quarters, Vir Biotechnology has surpassed consensus EPS estimates two times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.96 on revenues of $10.68 million, and for the current fiscal year, it is -$3.57 on revenues of $85.27 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Vir Biotechnology belongs, is currently in the top 35% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]