Virax Biolabs Group Limited (NASDAQ:VRAX) Sees Large Growth in Short Interest

Virax Biolabs Group Limited (NASDAQ:VRAX) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 266,800 shares, a growth of 467.7% from the May 31st total of 47,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is currently 0.2 days. Currently, 15.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Virax Biolabs Group stock. Armistice Capital LLC bought a new position in shares of Virax Biolabs Group Limited (NASDAQ:VRAX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 121,999 shares of the company’s stock, valued at approximately $178,000. Armistice Capital LLC owned about 7.87% of Virax Biolabs Group as of its most recent filing with the Securities & Exchange Commission. 8.61% of the stock is owned by institutional investors.

Virax Biolabs Group Trading Down 1.7 %

NASDAQ:VRAX traded down $0.02 during mid-day trading on Friday, hitting $1.16. The stock had a trading volume of 41,213 shares, compared to its average volume of 4,427,175. Virax Biolabs Group has a twelve month low of $0.60 and a twelve month high of $4.30. The company’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $1.02.

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.