Veraxa Biotech Holding AG (NASDAQ:VRXA) Sees Large Drop in Short Interest

Veraxa Biotech Holding AG (NASDAQ:VRXA) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 107,383 shares, a decline of 54.3% from the September 30th total of 235,019 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 421,031 shares, the days-to-cover ratio is presently 0.3 days.

Veraxa Biotech Stock Performance

NASDAQ:VRXA opened at $1.14 on Friday. The company has a fifty day simple moving average of $1.28. Veraxa Biotech has a 12 month low of $0.95 and a 12 month high of $27.36.

Insider Buying and Selling at Veraxa Biotech

In other news, Director Christoph Samuel Ziegler bought 30,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was bought at an average cost of $1.09 per share, for a total transaction of $32,700.00. Following the acquisition, the director directly owned 37,932 shares of the company’s stock, valued at $41,345.88. The trade was a 378.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Oliver Baumann bought 50,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $1.50 per share, with a total value of $75,000.00. Following the completion of the transaction, the director owned 5,773,618 shares in the company, valued at $8,660,427. This represents a 0.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 95,000 shares of company stock worth $125,333 in the last quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Veraxa Biotech from a “sell” rating to a “hold” rating in a research note on Monday, August 31st.

Veraxa Biotech Company Profile

VERAXA Biotech AG develops antibody-based therapeutics and antibody-drug conjugates for cancer treatment. The company develops antibody-based therapeutics, including antibody-drug conjugates and bispecific antibody formats, and offers a proprietary technology platform for functional antibody screening and bioconjugation. Its product pipeline includes drug candidates such as ADCs and BITACs, with some in clinical development, and it provides partnership models for collaborative development from target identification to antibody and ADC creation.