Virax Biolabs Group (NASDAQ:VRAX) Trading Down 7.8% – Time to Sell?

Virax Biolabs Group Limited (NASDAQ:VRAX) shares were down 7.8% during mid-day trading on Tuesday . The company traded as low as $2.56 and last traded at $2.60. 86,163 shares were traded during trading, a decline of 91% from the average daily volume of 981,102 shares. The stock had previously closed at $2.82.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VRAX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virax Biolabs Group in a report on Monday, July 6th. Wall Street Zen raised shares of Virax Biolabs Group from a “sell” rating to a “hold” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Virax Biolabs Group presently has a consensus rating of “Hold” and an average target price of $25.00.

Virax Biolabs Group Trading Up 0.4%

The company’s 50-day moving average is $3.19 and its 200 day moving average is $4.13.

Virax Biolabs Group (NASDAQ:VRAX) last issued its quarterly earnings data on Friday, July 3rd. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.75) by $1.55. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.00 million. Equities analysts expect that Virax Biolabs Group Limited will post -6 EPS for the current year.

Virax Biolabs Group Company Profile

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.