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

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

Virax Biolabs Group Price Performance

Shares of VRAX opened at $0.28 on Friday. The firm has a fifty day moving average price of $0.38 and a 200-day moving average price of $0.57. Virax Biolabs Group has a 12-month low of $0.26 and a 12-month high of $2.29.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VRAX. Zacks Research raised shares of Virax Biolabs Group to a “hold” rating in a report on Tuesday, January 13th. HC Wainwright reiterated a “buy” rating and set a $1.00 price objective (down previously from $3.00) on shares of Virax Biolabs Group in a research report on Friday, January 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Virax Biolabs Group in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1.00.

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.