Virax Biolabs Group Limited (NASDAQ:VRAX) Shares Shorted: Short Interest Up 52.7% in September

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 30,516 shares, a growth of 52.7% from the August 31st total of 19,982 shares. Approximately 7.0% of the company’s stock are short sold. Based on an average daily volume of 39,174 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRAX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virax Biolabs Group in a research report on Monday, July 6th. Wall Street Zen raised shares of Virax Biolabs Group from a “sell” rating to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.00.

Virax Biolabs Group Trading Up 2.8%

Virax Biolabs Group stock opened at $2.24 on Friday. The business’s 50-day simple moving average is $2.73 and its two-hundred day simple moving average is $3.72. Virax Biolabs Group has a fifty-two week low of $2.04 and a fifty-two week high of $21.75.

Virax Biolabs Group (NASDAQ:VRAX) last announced its quarterly earnings data on Friday, July 3rd. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.75) by $1.55. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.00 million. As a group, analysts expect that Virax Biolabs Group will post -6 earnings per share for the current fiscal year.

About Virax Biolabs Group

Virax Biolabs Group Limited is a biotechnology company focused on the prevention, detection and diagnosis of viral diseases. The company develops and commercializes diagnostic technologies intended to help identify infections and assess immune responses to viral pathogens.

Its portfolio includes molecular diagnostic products and immune-profiling technologies designed to measure T-cell responses to specific viruses. These products are intended for use by healthcare providers, laboratories and other organizations involved in infectious-disease testing and monitoring.

Virax Biolabs is headquartered in the United Kingdom and has pursued international commercialization and distribution opportunities for its diagnostic products.