Short Interest in Virax Biolabs Group Limited (NASDAQ:VRAX) Drops By 38.7%

Virax Biolabs Group Limited (NASDAQ:VRAX) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 58,591 shares, a decline of 38.7% from the December 31st total of 95,551 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 352,079 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 352,079 shares, the short-interest ratio is presently 0.2 days. Currently, 2.5% of the company’s stock are short sold.

Virax Biolabs Group Stock Down 0.7%

Shares of VRAX traded down $0.00 during mid-day trading on Friday, hitting $0.28. The company’s stock had a trading volume of 137,736 shares, compared to its average volume of 295,987. Virax Biolabs Group has a 1-year low of $0.26 and a 1-year high of $2.29. The firm has a 50-day simple moving average of $0.38 and a 200 day simple moving average of $0.57.

Virax Biolabs Group (NASDAQ:VRAX) last released its quarterly earnings data on Tuesday, December 2nd. The company reported ($0.27) EPS for the quarter. The company had revenue of $0.00 million for the quarter.

Analysts Set New Price Targets

VRAX has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Virax Biolabs Group in a report on Friday, January 9th. 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 note on Friday, January 9th. Finally, Zacks Research raised shares of Virax Biolabs Group to a “hold” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Virax Biolabs Group presently has a consensus rating of “Hold” and an average target price 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.