Short Interest in Virax Biolabs Group Limited (NASDAQ:VRAX) Drops By 97.1%
by Renee Jackson · The Cerbat GemVirax Biolabs Group Limited (NASDAQ:VRAX – Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 143,206 shares, a drop of 97.1% from the April 15th total of 5,006,970 shares. Based on an average daily trading volume, of 2,702,976 shares, the days-to-cover ratio is presently 0.1 days. Currently, 6.0% of the company’s shares are sold short.
Virax Biolabs Group Price Performance
Shares of VRAX stock traded down $0.02 during trading hours on Monday, reaching $0.15. The company’s stock had a trading volume of 11,133,607 shares, compared to its average volume of 9,704,512. Virax Biolabs Group has a one year low of $0.10 and a one year high of $1.20. The firm’s fifty day simple moving average is $0.17 and its 200 day simple moving average is $0.31.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Zacks Research raised Virax Biolabs Group to a “hold” rating in a research note on Tuesday, January 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Virax Biolabs Group in a report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.00.
View Our Latest Analysis on VRAX
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.