Why Vir Biotechnology Stock Is Falling Today

Prosper Junior Bakiny, The Motley Fool
·2-min read
Why Vir Biotechnology Stock Is Falling Today

Shares of Vir Biotechnology (NASDAQ: VIR) are dropping sharply on Thursday despite the drugmaker not reporting any news. Goldman Sachs analyst Paul Choi lowered his price target on Vir Biotechnology from $61 to $59. As a reminder, Vir Biotechnology and its partner GlaxoSmithKline are taking part in the Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV) Program, an initiative led by the U.S. National Institutes of Health (NIH).