Viracta Therapeutics, Inc. (NASDAQ:VIRX) Sees Significant Drop in Short Interest

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,580,000 shares, a decrease of 24.8% from the November 15th total of 2,100,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 0.8 days.

Viracta Therapeutics Stock Up 8.0 %

Shares of NASDAQ VIRX opened at $0.19 on Friday. The firm’s 50 day simple moving average is $0.19 and its 200-day simple moving average is $0.35. Viracta Therapeutics has a 12 month low of $0.13 and a 12 month high of $1.31.

Analyst Ratings Changes

Several research analysts recently issued reports on VIRX shares. 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. Leerink Partners downgraded 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 research report on Friday, August 16th.

Institutional Trading of Viracta Therapeutics

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

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.