Vir Biotech faces steep decline, Bank of America warns ...
Vir Biotechnology Inc's shares dropped 54% YTD due to disappointing influenza A and HBV trial results, leading BofA to downgrade the stock to Neutral and lower its price target to $14. Despite a negative enterprise value offering downside protection, near-term HBV trial readouts are unlikely to improve investor sentiment. Key HBV trial results expected in 4Q23 and 2Q24 could impact future share trajectory.
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Vir Biotechnology Inc's shares dropped 54% YTD due to disappointing influenza A and HBV trial results, leading BofA to downgrade the stock to Neutral and lower its price target to $14. Despite a negative enterprise value offering downside protection, near-term HBV trial readouts are unlikely to improve investor sentiment. Key HBV trial results expected in 4Q23 and 2Q24 could impact future share trajectory.