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

HC Wainwright started coverage on shares of Virax Biolabs Group (NASDAQ:VRAX) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 173.25% from the company’s previous close.

Virax Biolabs Group Price Performance

NASDAQ:VRAX opened at $1.10 on Monday. The stock has a fifty day moving average of $1.63 and a 200 day moving average of $1.89. Virax Biolabs Group has a 52-week low of $0.60 and a 52-week high of $9.00.

Institutional Inflows and Outflows

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) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.