Virax Biolabs Group Limited (NASDAQ:VRAX) Sees Large Decrease in Short Interest

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 143,206 shares, a decrease of 97.1% from the April 15th total of 5,006,970 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average daily volume of 2,702,976 shares, the days-to-cover ratio is presently 0.1 days.

Virax Biolabs Group Stock Performance

Shares of NASDAQ VRAX traded down $0.02 during trading hours on Monday, reaching $0.15. 11,133,607 shares of the stock traded hands, compared to its average volume of 9,704,512. The company’s 50-day simple moving average is $0.17 and its two-hundred day simple moving average is $0.31. Virax Biolabs Group has a 52-week low of $0.10 and a 52-week high of $1.20.

Analysts Set New Price Targets

VRAX has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Virax Biolabs Group in a research note on Wednesday, April 8th. Zacks Research upgraded Virax Biolabs Group to a “hold” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1.00.

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.