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

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 158,600 shares, a decline of 21.7% from the February 28th total of 202,600 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average trading volume of 377,700 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on Virax Biolabs Group in a report on Monday. They set a “buy” rating and a $3.00 target price for the company.

Virax Biolabs Group Price Performance

Virax Biolabs Group stock opened at $1.14 on Tuesday. Virax Biolabs Group has a fifty-two week low of $0.60 and a fifty-two week high of $9.00. The firm’s 50 day simple moving average is $1.63 and its 200-day simple moving average is $1.89.

Hedge Funds Weigh In On Virax Biolabs Group

An institutional investor recently bought a new position in Virax Biolabs Group stock. XTX Topco Ltd bought a new position in Virax Biolabs Group Limited (NASDAQ:VRAX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,863 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned 0.37% of Virax Biolabs Group as of its most recent SEC filing. 8.61% of the stock is owned by institutional investors.

Virax Biolabs Group Company Profile

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.