Virax Biolabs Group (NASDAQ:VRAX) Trading Down 7.8% – Should You Sell?

Virax Biolabs Group Limited (NASDAQ:VRAX) dropped 7.8% during trading on Tuesday . The stock traded as low as $2.56 and last traded at $2.60. Approximately 86,163 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 981,102 shares. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

VRAX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of 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 investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Virax Biolabs Group currently has an average rating of “Hold” and a consensus price target of $25.00.

Virax Biolabs Group Stock Performance

The firm has a fifty day moving average price of $3.21 and a two-hundred day moving average price of $4.15.

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

Virax Biolabs Group Company Profile

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.