Short Interest in Virax Biolabs Group Limited (NASDAQ:VRAX) Declines By 58.7%

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 25,046 shares, a decline of 58.7% from the June 30th total of 60,615 shares. Based on an average daily trading volume, of 7,378,977 shares, the short-interest ratio is presently 0.0 days. Approximately 5.7% of the shares of the stock are short sold.

Virax Biolabs Group Stock Performance

Shares of NASDAQ:VRAX opened at $3.19 on Monday. The company’s fifty day moving average is $4.50 and its 200 day moving average is $5.02. Virax Biolabs Group has a 52 week low of $2.50 and a 52 week high of $25.75.

Virax Biolabs Group (NASDAQ:VRAX) last posted its quarterly earnings results on Friday, July 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.75) by $1.55. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.00 million. As a group, sell-side analysts forecast that Virax Biolabs Group will post -6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRAX. Weiss Ratings restated a “sell (e+)” rating on shares of Virax Biolabs Group in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Virax Biolabs Group from a “sell” rating to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

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.