Virax Biolabs Group Ltd. Class A (VRAX) has received a new Buy rating, initiated by H.C. Wainwright analyst, Yi Chen.
Yi Chen’s rating is based on the promising potential of Virax Biolabs Group Ltd.’s innovative approach to diagnosing T cell dysfunction in post-acute infection syndromes, such as long COVID. The company’s focus on developing comprehensive immune profiling diagnostics through its ViraxImmune platform is a significant factor in the Buy rating. The anticipated U.S. validation study, which may begin in the second half of 2025, and the strategic collaborations with CLIA laboratories to offer laboratory development tests further strengthen the company’s position.
Additionally, the launch of the ImmuneSelect portfolio, which includes research-use-only immune profiling solutions, is expected to expand into U.S. markets by 2025, providing a robust foundation for future growth. The ongoing UK clinical validation study, conducted in collaboration with the National Health Service, aims to assess the performance of the ViraxImmune FluoroSpot T cell assay. This study could yield valuable insights into immune dysregulation, potentially leading to improved diagnostics and earlier treatment interventions. These strategic initiatives and collaborations underpin Yi Chen’s confidence in the company’s growth prospects, justifying the Buy rating with a 12-month price target of $3 per share.