HC Wainwright Begins Coverage on Virax Biolabs Group (NASDAQ:VRAX)

Equities research analysts at HC Wainwright began coverage on shares of Virax Biolabs Group (NASDAQ:VRAX) in a report released on Monday,Benzinga reports. The firm set a “buy” rating and a $3.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 158.62% from the company’s previous close.

Virax Biolabs Group Price Performance

VRAX opened at $1.16 on Monday. Virax Biolabs Group has a 12 month low of $0.60 and a 12 month high of $9.00. The stock has a fifty day moving average price of $1.65 and a 200-day moving average price of $1.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Virax Biolabs Group stock. XTX Topco Ltd acquired a new position in Virax Biolabs Group Limited (NASDAQ:VRAX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,863 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned approximately 0.37% of Virax Biolabs Group at the end of the most recent reporting period. 8.61% of the stock is currently owned by hedge funds and other 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.