Virax Biolabs Group Limited (NASDAQ:VRAX) Short Interest Up 173.2% in May

Virax Biolabs Group Limited (NASDAQ:VRAX) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 391,277 shares, an increase of 173.2% from the April 30th total of 143,206 shares. Approximately 16.4% of the company’s shares are short sold. Based on an average daily volume of 5,873,723 shares, the days-to-cover ratio is currently 0.1 days.

Virax Biolabs Group Price Performance

VRAX traded down $0.02 during midday trading on Friday, reaching $0.19. 2,803,936 shares of the company were exchanged, compared to its average volume of 53,748,104. Virax Biolabs Group has a one year low of $0.10 and a one year high of $1.14. The stock’s 50-day simple moving average is $0.17 and its 200 day simple moving average is $0.28.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Virax Biolabs Group in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Virax Biolabs Group has an average rating of “Hold” and an average price target 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.