Virax Biolabs Group Limited (NASDAQ:VRAX) Short Interest Update

Virax Biolabs Group Limited (NASDAQ:VRAX) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 10,571 shares, a drop of 81.0% from the February 26th total of 55,704 shares. Based on an average trading volume of 193,015 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 193,015 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $1.00 price target (down from $3.00) on shares of Virax Biolabs Group in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virax Biolabs Group in a report on Friday, January 9th. Finally, Zacks Research raised shares of Virax Biolabs Group to a “hold” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Virax Biolabs Group presently has an average rating of “Hold” and a consensus target price of $1.00.

Virax Biolabs Group Stock Up 0.7%

Shares of VRAX traded up $0.00 during midday trading on Tuesday, reaching $0.18. The stock had a trading volume of 281,210 shares, compared to its average volume of 227,252. The firm’s 50 day moving average price is $0.23 and its 200-day moving average price is $0.42. Virax Biolabs Group has a 52 week low of $0.17 and a 52 week high of $1.35.

About Virax Biolabs Group

Virax Biolabs Group (NASDAQ: VRAX) is a clinical-stage biotechnology company focused on the research, development and manufacturing of next-generation vaccines targeting respiratory and other infectious diseases. Headquartered in Australia, the company leverages advanced viral vector platforms to create novel immunization solutions designed to induce both systemic and mucosal immunity. Virax Biolabs is publicly traded on the NASDAQ exchange under the symbol VRAX.

At the core of Virax Biolabs’ pipeline is a proprietary adenoviral vector platform, licensed exclusively from a leading academic institution, which serves as the backbone for intranasal and injectable vaccine candidates.