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

Investment analysts at HC Wainwright started coverage on shares of Virax Biolabs Group (NASDAQ:VRAX) in a report released on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $3.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 173.25% from the stock’s current price.

Virax Biolabs Group Stock Performance

NASDAQ:VRAX opened at $1.10 on Monday. Virax Biolabs Group has a 1-year low of $0.60 and a 1-year high of $9.00. The business has a 50 day moving average of $1.63 and a 200 day moving average of $1.89.

Hedge Funds Weigh In On Virax Biolabs Group

An institutional investor recently bought a new position in Virax Biolabs Group stock. XTX Topco Ltd purchased a new position in Virax Biolabs Group Limited (NASDAQ:VRAX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,863 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned about 0.37% of Virax Biolabs Group as of its most recent SEC filing. Institutional investors and hedge funds own 8.61% of the company’s stock.

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.