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

Virax Biolabs Group Limited (NASDAQ:VRAX – Get Free Report) was the recipient of a large growth in short interest in the month of 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. Currently, 7.0% of the shares of the company are short sold. Based on an average daily trading volume, of 39,174 shares, the short-interest ratio is presently 0.8 days.

Virax Biolabs Group Trading Down 2.2%

NASDAQ VRAX opened at $2.18 on Thursday. The company has a 50 day moving average of $2.75 and a 200-day moving average of $3.74. Virax Biolabs Group has a 1-year low of $2.04 and a 1-year high of $21.75.

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Virax Biolabs Group (NASDAQ:VRAX – Get Free Report) last issued 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 company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.00 million. Sell-side analysts expect that Virax Biolabs Group will post -6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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About Virax Biolabs Group

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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.

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