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

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 211 shares, a drop of 98.0% from the March 15th total of 10,571 shares. Based on an average daily volume of 19,621,040 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VRAX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virax Biolabs Group in a research note on Wednesday. Zacks Research raised shares of Virax Biolabs Group to a “hold” rating in a research note on Tuesday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $1.00 price target (down from $3.00) on shares of Virax Biolabs Group in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1.00.

Virax Biolabs Group Stock Down 22.8%

VRAX stock opened at $0.10 on Friday. Virax Biolabs Group has a 12 month low of $0.10 and a 12 month high of $1.34. The company has a 50-day moving average price of $0.20 and a 200 day moving average price of $0.38.

About Virax Biolabs Group

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.