Virax Biolabs Group (NASDAQ:VRAX) Coverage Initiated at HC Wainwright

Research analysts at HC Wainwright initiated coverage on shares of Virax Biolabs Group (NASDAQ:VRAX) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $3.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 158.62% from the stock’s current price.

Virax Biolabs Group Stock Down 6.5 %

Virax Biolabs Group stock opened at $1.16 on Monday. Virax Biolabs Group has a fifty-two week low of $0.60 and a fifty-two week high of $9.00. The company has a 50 day moving average price of $1.65 and a 200-day moving average price of $1.91.

Hedge Funds Weigh In On Virax Biolabs Group

An institutional investor recently bought a new position in Virax Biolabs Group stock. XTX Topco Ltd bought a new position in shares of Virax Biolabs Group Limited (NASDAQ:VRAX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 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.

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.