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

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on VRAX shares. Wall Street Zen upgraded Virax Biolabs Group from a “sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Virax Biolabs Group in a research note on Monday, July 6th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

Virax Biolabs Group Price Performance

VRAX stock traded up $0.08 during trading on Wednesday, hitting $2.97. The company had a trading volume of 13,820 shares, compared to its average volume of 1,188,557. The company has a fifty day moving average price of $4.43 and a two-hundred day moving average price of $4.92. Virax Biolabs Group has a fifty-two week low of $2.50 and a fifty-two week high of $25.00.

Virax Biolabs Group (NASDAQ:VRAX) last issued its quarterly earnings data on Friday, July 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.75) by $1.55. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.00 million. On average, analysts expect that Virax Biolabs Group will post -6 earnings per share for the current fiscal year.

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.