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

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 12,000 shares, a growth of 300.0% from the March 31st total of 3,000 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average trading volume of 73,000 shares, the days-to-cover ratio is currently 0.2 days.

Virax Biolabs Group Price Performance

Shares of NASDAQ:VRAX traded down $0.00 during trading on Thursday, hitting $0.66. 7,328 shares of the stock were exchanged, compared to its average volume of 77,057. The company has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $1.46. Virax Biolabs Group has a 12-month low of $0.61 and a 12-month high of $5.45.

Institutional Investors Weigh In On Virax Biolabs Group

A hedge fund recently bought a new stake in Virax Biolabs Group stock. Armistice Capital LLC bought a new stake in Virax Biolabs Group Limited (NASDAQ:VRAX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 121,999 shares of the company’s stock, valued at approximately $178,000. Armistice Capital LLC owned approximately 7.87% of Virax Biolabs Group as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 8.61% of the company’s stock.

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.