Virax Biolabs Group Limited (NASDAQ:VRAX) Short Interest Down 58.7% in July

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a significant drop in short interest in 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. Currently, 5.7% of the company’s stock are short sold. Based on an average daily volume of 7,378,977 shares, the short-interest ratio is presently 0.0 days.

Virax Biolabs Group Stock Down 2.8%

Virax Biolabs Group stock opened at $3.10 on Tuesday. The business has a 50 day moving average of $4.49 and a 200-day moving average of $4.97. Virax Biolabs Group has a 1 year low of $2.50 and a 1 year high of $25.75.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in 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 reiterated a “sell (e+)” rating on shares of Virax Biolabs Group in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Virax Biolabs Group presently has a consensus rating of “Hold” and an average price target of $25.00.

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.