Short Interest in Virax Biolabs Group Limited (NASDAQ:VRAX) Declines By 55.9%

Virax Biolabs Group Limited (NASDAQ:VRAX) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 49,100 shares, a drop of 55.9% from the May 15th total of 111,400 shares. Based on an average daily trading volume, of 151,900 shares, the short-interest ratio is currently 0.3 days. Approximately 1.2% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, HC Wainwright assumed coverage on Virax Biolabs Group in a research note on Monday, March 31st. They set a “buy” rating and a $3.00 price target on the stock.

Hedge Funds Weigh In On Virax Biolabs Group

A hedge fund recently bought a new stake in Virax Biolabs Group stock. XTX Topco Ltd purchased a new stake in Virax Biolabs Group Limited (NASDAQ:VRAX) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 11,863 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned 0.37% of Virax Biolabs Group at the end of the most recent reporting period. 8.61% of the stock is owned by institutional investors.

Virax Biolabs Group Stock Down 1.6%

Shares of NASDAQ VRAX traded down $0.01 during mid-day trading on Monday, hitting $0.87. The company’s stock had a trading volume of 28,940 shares, compared to its average volume of 1,735,743. The company’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $1.49. Virax Biolabs Group has a one year low of $0.82 and a one year high of $9.00.

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.