Virax Biolabs price target lowered to $1 from $3 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Virax Biolabs (VRAX) to $1 from $3 and keeps a Buy rating on the shares. Virax Biolabs outlined 2026 priorities focused on advancing ViraxImmune for Post-Acute Infection Syndromes, including reporting initial data from two fully enrolled U.K. studies in 2Q26 to support potential MHRA submission, launching a U.S. long COVID study with Emory University, and expanding ImmuneSelect RUO commercialization, the analyst tells investors in a research note. Recent mechanistic data show clear T-cell exhaustion and dysfunction in PAIS patients, consistent with the immune signatures ViraxImmune is designed to detect, with the company’s current market value estimated at approximately $26M, the firm says.