Short Interest in Virax Biolabs Group Limited (NASDAQ:VRAX) Expands By 163.7%

Virax Biolabs Group Limited (NASDAQ:VRAX) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 55,704 shares, an increase of 163.7% from the February 12th total of 21,126 shares. Based on an average daily volume of 224,823 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.3% of the shares of the company are sold short. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 224,823 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Virax Biolabs Group to a “hold” rating in a research report on Tuesday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $1.00 price objective (down from $3.00) on shares of Virax Biolabs Group in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Virax Biolabs Group in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Virax Biolabs Group presently has an average rating of “Hold” and an average price target of $1.00.

Virax Biolabs Group Stock Performance

NASDAQ:VRAX opened at $0.20 on Thursday. The firm’s 50-day moving average is $0.27 and its 200-day moving average is $0.44. Virax Biolabs Group has a 52-week low of $0.19 and a 52-week high of $1.58.

Virax Biolabs Group (NASDAQ:VRAX) last issued its earnings results on Tuesday, December 2nd. The company reported ($0.27) EPS for the quarter. The company had revenue of $0.00 million during the quarter.

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.