Virax Biolabs Group Limited (NASDAQ:VRAX) Sees Significant Decline in Short Interest

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 6,645 shares, a decrease of 78.2% from the September 15th total of 30,516 shares. Based on an average trading volume of 30,903 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.5% of the company’s stock are sold short.

Virax Biolabs Group Stock Performance

Shares of VRAX stock traded down $0.01 during trading hours on Tuesday, reaching $1.83. 24,008 shares of the company’s stock were exchanged, compared to its average volume of 993,713. The company’s 50 day moving average is $2.61 and its two-hundred day moving average is $3.59. Virax Biolabs Group has a 1 year low of $1.77 and a 1 year high of $21.75.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Virax Biolabs Group in a research report on Friday, October 2nd. Wall Street Zen upgraded shares of Virax Biolabs Group from a “sell” rating to a “hold” rating in a research note on Monday, July 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.00.

About Virax Biolabs Group

Virax Biolabs Group Limited (NASDAQ: VRAX) is a biotechnology company focused on developing and commercializing diagnostic and immune-profiling technologies for viral diseases. Its activities are centered on tools intended to help identify infections and assess immune responses to viral pathogens.

The company’s portfolio has included molecular and immunological testing products, including ViraxClear diagnostic offerings and ViraxImmune technologies designed to evaluate T-cell responses.