Virax Biolabs Group Limited (NASDAQ:VRAX) shares are trending on Tuesday.
VRAX shares rose 17.36% to $0.28 in after-hours trading on Monday.
The jump in the late trading session follows an intraday gain of 53.09%, closing the stock at $0.24, according to Benzinga Pro data.
Armistice Capital Takes 4.99% Stake in VRAX
On May 15, Armistice Capital, LLC, a New York-based hedge fund, filed a Securities and Exchange Commission disclosure revealing a 4.99% beneficial ownership stake of over 1 million ordinary shares. The fund was founded in 2012 by Managing Member Steven Boyd, who signed the filing.
Last month, Virax Biolabs announced it is advancing ViraxImmune, a proprietary assay targeting post-acute infection syndromes including Long COVID and myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS), a space the company estimates carries a U.S. economic burden exceeding $25 billion.
Trading Metrics, Technical Analysis
Virax, an innovative biotechnology company, has a market capitalization of $4.79 million. Its stock has traded between a 52-week high of $1.18 and a 52-week low of $0.10.
VRAX’s Relative Strength Index (RSI) is 69.52.
Over the past 12 months, the stock of the biotech has dropped 78.04%.
Currently, VRAX is positioned at about 13% of the way up from its 52-week low to its high, meaning the stock is trading closer to its annual low.
Benzinga’s Edge Stock Rankings indicate that VRAX has a negative price trend across all time frames.
Photo Courtesy: Gorodenkoff on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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