Virax Biolabs Group Limited (NASDAQ:VRAX) Sees Large Increase in Short Interest

Virax Biolabs Group Limited (NASDAQ:VRAX) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,068,991 shares, a growth of 173.2% from the May 14th total of 391,277 shares. Based on an average trading volume of 110,754,674 shares, the short-interest ratio is presently 0.0 days. Approximately 44.8% of the shares of the company are sold short.

Virax Biolabs Group Price Performance

NASDAQ:VRAX traded up $0.00 during trading hours on Friday, hitting $0.18. 728,684 shares of the stock traded hands, compared to its average volume of 53,200,672. The stock has a 50 day moving average price of $0.18 and a 200 day moving average price of $0.26. Virax Biolabs Group has a 1 year low of $0.10 and a 1 year high of $1.14.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Virax Biolabs Group in a report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Virax Biolabs Group has an average rating of “Hold” and an average price target of $1.00.

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.