Viracta Therapeutics, Inc. (NASDAQ:VIRX) Short Interest Update

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,100,000 shares, a decline of 21.9% from the October 31st total of 2,690,000 shares. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 7.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Viracta Therapeutics

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC purchased a new position in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned approximately 1.27% of Viracta Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 31.37% of the stock is currently owned by institutional investors.

Viracta Therapeutics Stock Down 5.3 %

Viracta Therapeutics stock opened at $0.14 on Friday. The business’s 50-day moving average price is $0.20 and its 200 day moving average price is $0.38. The firm has a market cap of $5.56 million, a price-to-earnings ratio of -0.13 and a beta of 0.72. Viracta Therapeutics has a 52 week low of $0.13 and a 52 week high of $1.31.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VIRX shares. Leerink Partners downgraded shares of Viracta Therapeutics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $5.00 to $3.00 in a report on Friday, August 16th. Royal Bank of Canada reduced their target price on shares of Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday, November 14th.

Viracta Therapeutics Company Profile

Viracta Therapeutics, Inc, a clinical-stage precision oncology company, focuses on the treatment and prevention of virus-associated cancers that impact patients worldwide. Its lead product candidate is Nana-val, an all-oral combination therapy of its proprietary investigational drug, nanatinostat, and the antiviral agent valganciclovir.