Virax Biolabs Group Limited (NASDAQ:VRAX) Short Interest Up 85.9% in April

Virax Biolabs Group Limited (NASDAQ:VRAX) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 258,800 shares, a growth of 85.9% from the March 31st total of 139,200 shares. Approximately 6.4% of the company’s shares are sold short. Based on an average trading volume of 243,300 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On Virax Biolabs Group

A hedge fund recently bought a new stake in Virax Biolabs Group stock. XTX Topco Ltd bought a new stake in shares of Virax Biolabs Group Limited (NASDAQ:VRAX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,863 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned 0.37% of Virax Biolabs Group at the end of the most recent reporting period. 8.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright initiated coverage on Virax Biolabs Group in a research note on Monday, March 31st. They issued a “buy” rating and a $3.00 price objective for the company.

Virax Biolabs Group Stock Up 5.7 %

NASDAQ VRAX opened at $1.11 on Tuesday. Virax Biolabs Group has a 52 week low of $0.60 and a 52 week high of $9.00. The company has a fifty day moving average of $1.24 and a two-hundred day moving average of $1.72.

About Virax Biolabs Group

Virax Biolabs Group Limited, a biotechnology company, sells, distributes, and markets diagnostics test kits for the prevention, detection, diagnosis, and risk management of viral diseases in the field of immunology. The company provides rapid antibody IgC/IgM tests, antigen tests, polymerase chain reaction rapid tests, and neutralizing antibody tests under the ViraxClear brand name.