Virax Biolabs Group (NASDAQ:VRAX) Stock Price Down 5.3% – Here’s What Happened

Virax Biolabs Group Limited (NASDAQ:VRAX)’s stock price dropped 5.3% on Friday . The company traded as low as $0.21 and last traded at $0.2130. Approximately 93,300 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 183,739 shares. The stock had previously closed at $0.2250.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VRAX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Virax Biolabs Group in a research report on Friday, January 9th. HC Wainwright reiterated a “buy” rating and set a $1.00 target price (down from $3.00) on shares of Virax Biolabs Group in a report on Friday, January 9th. Finally, Zacks Research upgraded Virax Biolabs Group to a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.00.

Virax Biolabs Group Trading Down 5.3%

The stock’s fifty day moving average price is $0.31 and its 200 day moving average price is $0.49.

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

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.