Virax Biolabs Group (NASDAQ:VRAX) Stock Price Up 2% – Here’s What Happened

Virax Biolabs Group Limited (NASDAQ:VRAX)’s stock price shot up 2% during mid-day trading on Friday . The company traded as high as $1.05 and last traded at $1.02. 28,875 shares were traded during trading, a decline of 99% from the average session volume of 2,086,128 shares. The stock had previously closed at $1.00.

Analyst Upgrades and Downgrades

Separately, HC Wainwright started coverage on Virax Biolabs Group in a research report on Monday, March 31st. They set a “buy” rating and a $3.00 price objective for the company.

Virax Biolabs Group Price Performance

The business has a 50-day simple moving average of $1.06 and a 200 day simple moving average of $1.60.

Institutional Trading of Virax Biolabs Group

A hedge fund recently bought a new stake in Virax Biolabs Group stock. XTX Topco Ltd purchased a new stake in shares of Virax Biolabs Group Limited (NASDAQ:VRAX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,863 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned about 0.37% of Virax Biolabs Group at the end of the most recent quarter. 8.61% of the stock is owned by hedge funds and other institutional investors.

About Virax Biolabs Group

Virax Biolabs Group Limited, a biotechnology company, sells, distributes, and markets diagnostics test kits for the prevention, detection, diagnosis, and risk management of viral diseases in the field of immunology. The company provides rapid antibody IgC/IgM tests, antigen tests, polymerase chain reaction rapid tests, and neutralizing antibody tests under the ViraxClear brand name.